Lumber’s Biggest Price Reversal In 30 Years Adds To Market Concerns!

lumber futures price peak top reversal lower chart image september 23

Lumber Futures Prices versus S&P 500 Index Performance Chart

One unsung market indicator is the price of lumber. It is a key indicator of the economy (home building, business expansion) and that often finds its way to the stock market.

In today’s chart 2-pack we look at long-term “quarterly” charts of lumber prices and the stock market… and why both are signaling caution thus far this month.

As you can see, both lumber prices and the S&P 500 are in the midst of creating there largest quarterly reversal patterns in 30 years!

Time will tell if these two markets are sending an important warning to investors (and the economy)… or perhaps they are just noise. Stay tuned!

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Twitter:  @KimbleCharting

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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