The overall housing market consists of existing homes up for resale and new single-family homes that can be purchased in planned communities. But companies that provide flooring, air conditioning, building products, insulation and cement have become extremely overbought in a housing market that has stalled.

Here's how to trade this sector.

The best index that tracks the housing market is the PHLX Housing Index which has 19 components -- 11 are homebuilders and eight are companies that provide products, materials and services that support the housing market. Here are the five profiled today.

Armstrong World (AWI) - Get Report , a designer of floors, ceilings and cabinets, is in correction territory after rebounding by 34.3% since its low set on Feb. 11. This company reports quarterly results on May 9. Analysts expect the company to earn 46 cents a share.

Lennox International (LII) - Get Report , an air conditioning and heating company, set an all-time high on April 19. It is up 30.3% since setting its 2016 low on Feb. 8. This company reported quarterly results on April 18 and beat estimates by 6 cents, helping the stock set its new high.

Masco (MAS) - Get Report , a home improvement and building products company, set an all-time high on April 20. It is up 41.6% since its low, set on Feb. 8. The company will report its latest quarterly earnings on April 26. It is expected to earn 25 cents a share.

Owens Corning (OC) - Get Report , a provider of insulation, roofing and siding, set an all-time high of $51.93 on April 19 and is up 31.2% since its low set on Feb. 10. This company reports earnings on April 27 and analysts expect the company to earn 32 cents a share.

Vulcan Materials (VMC) - Get Report , a concrete and cement company, set an all-time high of $109.63 on April 11. It is up 37.9% since its low set on Jan. 20. This company reports quarterly results on May 2, and early estimates call for earnings of 7 cents a share.

On Wednesday, the monthly report for existing home sales showed a rise of 5.1% in March to a seasonally adjusted annual rate of 5.33 million. The chart below shows how existing sales have not been able to rise above the 5.5 million threshold since bottoming in mid-2010. The year-over-year gain is a meager 1.5%. On Tuesday, the report on housing starts showed a decline of 8.8% to 1.089 million, about 60% of potential.

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Here's the weekly scorecard for the housing index and five housing-related stocks.

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Here's the weekly chart for the housing index.


Courtesy of MetaStock Xenith

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The housing index chart is positive but overbought, with the index above its key weekly moving average of $226.79 and above its 200-week simple moving average of $199.41.

Weekly momentum is projected to rise to 90.34 this week, up from 86.88 on April 15, so the housing index is becoming more overbought.

The horizontal lines are the Fibonacci Retracements of the decline from the July 2005 high of 293.66 to the March 2009 low 54.31. The crash of 2008 caused an 81.5% drop. The index has been above its 61.8% retracement at 201.87 since the week of Feb. 26.

Here's the weekly chart for Armstrong World.


Courtesy of MetaStock Xenith

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Armstrong World closed Wednesday at $42.24, up 6.6% year to date. It is in correction territory, 19.7% below its 52-week high of $52.60, set on Aug. 18. The stock is up 34.3% since its 2016 low of $31.45, set on Feb. 11.

The weekly chart is positive but overbought, with the stock above its key weekly moving average of $39.97, but below its 200-week simple moving average of $44.79. The weekly momentum reading is projected to rise to 84.74 this week, up from 81.93 on April 15, becoming more overbought above the 80.00 threshold.

The horizontal lines are the Fibonacci Retracements of the decline from the all-time high and the 2016 low, and the stock appears to be stalling at its 50% retracement of $42.39.

Investors looking to buy Armstrong should buy weakness to $41.95 and $38.90, which are key levels on technical charts until the end of 2016.

Investors looking to reduce holdings should sell strength to $43.50 and $47.94, which are key levels on technical charts until the end of June.

Here's the weekly chart for Lennox.


Courtesy of MetaStock Xenith

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Lennox closed Wednesday at $137.66, up 10.2% year to date and up 30.3% since setting its 2016 low of $105.65 on Feb. 8. The stock set its all-time high of $143.19 on April 19.

The weekly chart is positive but overbought, with the stock above its key weekly moving average of $134.50 and well above its 200-week simple moving average of $87.66. Note that the stock could end the week with a "key reversal" if it stays below the prior week low of $138.92. The weekly momentum reading is projected to be flat at an extremely overbought reading of 92.68.

Investors looking to buy Lennox should buy weakness to $128.98 and $99.65, which are key levels on technical charts until the end of June and the end of 2016, respectively.

Investors looking to reduce holdings should sell strength to $148.65, which is a key levels on technical charts until the end of June.

Here's the weekly chart for Masco.


Courtesy of MetaStock Xenith

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Masco closed Wednesday at $32.72, up 15.6% year to date and up 41.6% since setting its 2016 low of $23.10 on Feb. 8. The stock set its all-time high of $32.92 on April 20.

The weekly chart is positive but overbought, with the stock above its key weekly moving average of $30.88 and well above its 200-week simple moving average of $20.49. The weekly momentum reading is projected to rise to 94.49, up from 92.93 on April 15 -- both extremely overbought and well above the 80.00 overbought threshold.

Investors looking to buy Masco should buy weakness to $30.70 and $30.52, which are key levels on technical charts until the end of June and the end of April, respectively.

Investors looking to reduce holdings should sell strength to $33.10 and $33.98, which are key levels on technical charts until the end of June and the end of this week, respectively.

Here's the weekly chart for Owens Corning.


Courtesy of MetaStock Xenith

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Owens Corning closed Wednesday at $51.10, up 8.7% year to date and up 31.2% since setting its 2016 low of $38.96 on Feb. 10. The stock set its all-time high of $51.93 on April 19.

The weekly chart is positive but overbought, with the stock above its key weekly moving average of $48.01 and well above its 200-week simple moving average of $39.58. The weekly momentum reading is projected to rise to 89.77, up from 87.18 on April 15, both extremely overbought above the 80.00 threshold.

Investors looking to buy Owens Corning should buy weakness to $46.10 and $45.23, which are key levels on technical charts until the end of April and the end of June, respectively.

Investors looking to reduce holdings should sell strength to $52.96, which is a key level on technical charts until the end of this week.

The $48.76 level should provide a magnet until the end of 2016.

Here's the weekly chart for Vulcan Materials.


Courtesy of MetaStock Xenith

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Vulcan Materials closed Wednesday at $108.71, up 14.5% year to date and up 37.9% since setting its 2016 low of $78.83 on Jan. 20. The stock set its all-time high of $109.63 on April 11.

The weekly chart is positive but overbought, with the stock above its key weekly moving average of $104.58 and well above its 200-week simple moving average of $67.74. The weekly momentum reading is projected to rise to 93.83, up from 93.54 on April 15, both extremely overbought above the 80.00 threshold.

Investors looking to buy Vulcan Materials should buy weakness to $104.41 and $100.94, which are key levels on technical charts until the end of June.

Investors looking to reduce holdings should sell strength to $114.98, which is a key level on technical charts until the end of this week.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.