Rotting Lumber Takes Out Support

Lumber has broken support. (Note the SlopeChart is through close, not updated for today yet.) Perhaps the spike in lumber will be like the earlty 1990s rally that shifted lumber into a new trading range. Perhaps the past year will look like a aberration in hindsight, a brief pop in commodity and assets prices followed by doom. Eitehr way, unless the rally resumes soon, lumber will start acting as a negative factor for the CPI calculation.