Don't Ignore This Chart!

Lumber Moves Higher Along with Other Commodities


The Homebuilders SPDR and the Home Construction iShares (ITB) both surged this week and we are also seeing strength in Lumber ($LUMBER). On one hand, this increases building costs. On the other hand, it shows an increase in demand and this could mean more construction. The late November low marks support for Lumber.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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