Traders: Track a September contract breakout above 494.5. A decisive close above that level sets a rough target of 600 (shelf of former highs from last year). I’ll pass since I don’t trade lumber. (I like the bullish divergence forming on the 14-day RSI, though.) Whether you trade the futures contract or not, a rally for lumber is a rally for homebuilders and...
4 consecutive higher highs 4 consecutive higher lows all since June 2022 I like the look of this one and I believe in the company too (Canadian Lumber)
And do you want to buy the dip These trends are not looking good. if earnings can't get over 74 and maintain good momentum, it's going to get pushed down to the support trends. Which are quite strong overall. The downside is huge. But it's not like there isn't upside. I'm just not certain the upside to 80 will occur sooner rather than later. Personally, I see a...
“Inequality can be done away with only by establishing a new society, where men and women will enjoy equal rights, resulting from an upheaval in the means of production and in all social relations. Thus, the status of women will improve only with the elimination of the system that exploits them.” Lumber Liquidators looks good for a reversal. Small share...
very nice large time frame setup, fundamentals are strong
Lumber and 30 year Mortgage – weekly scale: FRED 30 year rates lag most mortgage rates already above 5%. It has been since 2018 since rates were above 5% and lumber was sub 300.00. High priced lumber (any high priced commodity) will eventually correct itself. High prices cure high prices. Now the pinch is on and rates are reacting. Cost of money is no longer...
Lumber has been decimated over the last 3 weeks. With housing data coming out tomorrow along with PCE. Is this weak lumber chart signaling a continuation of yield strength moving up? Does the market interpret the housing data as negative? One thing is for sure interest rates should make a move tomorrow off of the data sets.
Copper and S&P500 is making a divergence. Could this mean that we are going to be seeing weakness creep into the real estate market with Lumber and copper falling recently? SPY has tracked copper closely with the rise & fall in inflation and yields. The most used commodity in the world should provide pivotal insights into the next turn in the market. If we...
Lumber is signalling disinflation. Stocks are signaling inflation. There has bee a high correlation with stocks and lumber for about 18 months. Is this correlation officially breaking or does it imply we will see some weakness in stocks? Right now lumber is showing weakness.
As above. Falling wedge breakout with good volume. Bullish divergence on the MACD as well on 1D chart. Target very possible mid $700 if up trend continues. Will follow. Good Luck traders.
Lumber is at a critical inflection point. Its likely telling us that Central bank policy is about to experience more inflation if they start to ease to soon. If Lumber continues to rally, its screaming more housing inflation could be around the corner. Since we have a major Technical Topping formation in play, Lumber is still vulnerable to more downside...
This Lumber Weekly chart clearly shows the unique parallell range that confirmed a breakdown. Now to determine what likely happens next we wait to see if we get a close above or below the weekly key channel Resistance line. If rates remain soft we will likely get a continuation move to the upside.
We a long on Lumber Futures. First Level TP at 600
Lumber has just wave-c completed and taking off once crossing up the minor pattern - targets as seen. As you can see there is a minor diamond pattern inside the major falling wedge patterns. Diamond can be perceived as upside-down H&Ss but for me it shines bright like a diamond :)
Lumber prices are trading near their 2021 low as prices extend a multi-week losing streak. A break below 452.2 would likely induce further weakness, and the chart setup appears biased for more pain. However, if bulls defend that level, a Falling Wedge offers a potential breakout chance, but it would first require prices to rise to and break wedge resistance.
Lumber is a leading indicator for the housing market which is a leading indicator for the economy. In fact, as you can see on the chart, they are usually TOO leading. Housing Index needs lumber to confirm down trend via at least one failed retest of its ATH before it can establish its own top. After housing peaks, It takes a while before the stock market peaks,...
We wouldn’t blame you if you mistook the lumber price chart with a cryptocurrency. Down more than 70% from its peak in May 2021, lumber’s had astonishing volatility over the past few years. On a longer-term chart, the 460 handle represents a very long-term support/resistance level. With current Lumber prices just shy of this major support level of 460, could we...
As above. Inch by inch we are seeing lumber prices tank. We have sawed off nearly 50% from the ATH of $1400. Broke through the $770 target trend line and looks headed for next support at $650 to $670 range at the 0.786 Fib retracement level.