Spotting Tops and Bottoms-Lumber Example

The Lumber markets presents a good example of how to spot a top and bottom in the same chart. These short booms and busts are much more common in commodities than stocks.

I rarely ever trade lumber for two reasons.
1- With a daily volume of only 300, it is extremely thinly traded.
2- The leverage is high. Every hundred point move is $11K per contract.
The lumber market is targeting 900. If I was long, my stop would have already been moved up to the break even point of 720.