Lumber and Homebuilders Stronger than the S&P 500
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Both were upside leaders as Homebuilders(NYSEARCA:XHB) gained 50% more than the S&P(NYSEARCA:SPY) and Lumber doubled S&P gains since 1/1/16
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Not only did they outperform the broad market to the upside, they actually were leading indicators of good things to come as they started pushing sharply higher “before” the S&P!
Joe Friday Just The Facts– Both of these leaders are breaking rising support at each (1), which could be sending an important message to the broad markets.