Here are two lumber/paper stock dashboards. Pretty mixed bag.
You can see there are sharp contrasts between the leaders and laggards. Home Depot and Lowes in the US are doing pretty good. Look at RONA at the bottom here...No momentum higher at all.
A pretty interesting collection, but you would never know that the Home builder stocks in the US are having a power house spring. I continue to be amazed how the Canadian market has not responded to the US bullish chart action. At least the $TSX is two days above the 200 DMA again. But in true two step fashion, we gave one of those days back again today...
Good Trading,
Greg Schnell, CMT.
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
Learn More
