Housing Bottom ?

[Wallace]

thought I'd throw this Lumber chart up tho I can't fibo it so
guestimating a price target between 192.58 and 180.40
time target of May 08 for a bottom (which coincides with currencies) or July 08
the 04 top a clear signal of the end of the housing construction boom -- lumber in NA being the major component of houses

 

[nazzdack]

?.............a seasonal rally into February, then maybe a chance for a re-test of 200 and 180 between March & May if things look really bad. Home Depot and Menard's are bragging about "low" lumber prices in their sales flyers. Maybe they won't stay that way for long.