chart
time to take some profits when you look at the chart. SP +10% above 50 day avg,
Once a SP goes parabolic as LOW seems to be trying to do & gets too far above its mov. avg. a cos. SP snaps back/comes back to reality (due to gravity) as the elastic band can only be sretched to far.
Chicago PMI below estimates this am while pending homes sales above estimates; so???
People are still not wealthy enough to buy a new car (average age of the auto is 12 yrs.) never mind a new house; so reno is the way to go it would seem which is in Home Depot & Low's backyard & on BNN I heard someone favour LOW's over HD bevcause of some particular HD issue, but I feel a pullback is inevitable & necessary before we go onwards & upwards.
carlos