Naturally by the time we hear in the news something is happening we start to look for our olive line indicator and low and behold, lumber hit OLS1 at July 413.37 so if you deployed this system you were short going into this.
I have talked forever on how Macro events are caused by Government, this is a perfect example. The market did not expect this.
Fact, total Canada notional value is $5.6Bil, a pimple just like the Wall is to the total budget and blown way out of proportion in the writers view.
Here is a chart of how it looked; I guess this market could still shot to another indicator but that is a trader mind due to reasons why you should get in here.