MMHVW - looks like a buy - do your own research as usual
Lumber Liquidators Holdings, Inc., together with its subsidiaries, operates as a multi-channel specialty retailer of hard-surface flooring, and hard-surface flooring enhancements and accessories. The company offers hardwood species, engineered hardwood, laminates, resilient vinyl flooring, waterproof vinyl...
Waiting for a lumber pullback into a potential long area.
- Right now, the housing numbers are keeping the buyers away but everything could change as soon as the snow melt
- RSI is approaching the oversold area
- A nice zone between 365-375 with multiple touches
MOnthly Lumber futures LB1! vs SPY
Looks to me like the last 7 times there has been a major trend line break in lumber futures it was a harbinger of what was to come in stocks. Worth keeping an eye on it.
PS: for the few folks out there who like EWT it suggests to me we have one last 5 wave up in lumbar to 55 then the sh=t hits the fan.
Looking at the charts for Lumber Futures, I was originally upset that I missed the absolutely insane rally in Lumber going back to the start of 2016. However, no use in getting pissed about the past, let's focus on the present. Lumber just formed a double top with price around 400 going back to 2013.
I am waiting for confirmation of a bearish reaction to the...