Updating an ongoing series of posts on lumber and the housing complex, we are seeing more rejection away from what is now a clear area of resistance dating back to late last year, for Random Length Lumber futures. Homebuilders are bear-flagging all over the place. If the bears cannot capitalize on this setup, you have to be willing to change your bias in a New York minute.
(Chart via CME)
3 Responses to Invisible Lumber Wreaking Havoc
Very funny..I will certainly have to share that clip.