Homebuilder stocks have negative weekly chart profiles confirming recent highs as the market for new homes operates at 60% of potential. Meanwhile, existing home sales have stalled just below an annual rate of 5.5 million, and the National Association of Home Builders' remodeling index fell by four points to 54 at their latest reading.

The companies involved in all segments of the housing market -- Armstrong World (AWI) - Get Report , Lennox International (LII) - Get Report , Masco (MAS) - Get Report , Owens Corning (OC) - Get Report and Vulcan Materials (VMC) - Get Report  -- have positive but overbought weekly charts and could swing to negative by the end of May.

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.

Here's the weekly chart for the housing index

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Courtesy of MetaStock Xenith

The housing index has a positive but overbought with the index above its key weekly moving average of 227.65 and above its 200-week simple moving average of 201.20. Weekly momentum is projected to decline to 81.31 this week down from 85.39 on May 13 15, so the housing index is becoming less overbought. A weekly close below 227.65 this week and next will shift this chart to negative.

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

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

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Here's the daily chart for Armstrong World.

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Courtesy of MetaStock Xenith

Armstrong World, the designer of floors, ceilings and cabinets, closed Tuesday at $41.25, up 4.1% year to date and in bear market territory 19.7% below its 52-week high of $52.60 set on Aug. 18. The stock is up 32.5% since its 2016 low of $31.13 set on Feb. 11.

The daily chart shows the Fibonacci retracements from the Aug. 18 high to the Feb. 11 low. The rebound from the low had the stock above its 50% retracement of $41.85 at its April 4 high of $43.16, but since then the stock has slipped below this key level, but held its 38.2% retracement of $39.32 at the May 9 low of $39.05. The stock is currently just above its 200-day simple moving average of $41.21.

Investors looking to buy Armstrong should buy weakness to $31.64, which is a key level on technical charts until the end of May.

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.

The $41.95 key level should be a magnet until the end of 2016.

Here's the daily chart for Lennox.

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Courtesy of MetaStock Xenith

Lennox, the air conditioning and heating company closed Tuesday at $135.88, up 8.8% year to date and up 28.6% since setting its 2016 low of $105.65 on Feb. 8.

The daily chart shows that the stock has been above a "golden cross" since Dec. 10, 2014 when the stock closed at $93.13. A "golden cross" occurs when the 50-day simple moving average rises above the 200-day simple moving average indicating that higher prices lie ahead and that's been the case for Lennox. The stock is currently above its 50-day and 200-day simple moving averages off $135.81 and $126.89, respectively.

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 $139.98 and $148.65, which are key levels on technical charts until the end of May and the end of June, respectively.

Here's the daily chart for Masco.

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Courtesy of MetaStock Xenith

Masco, the home improvement and building products company closed Tuesday at $31.34. up 10.7% year to date and up 35.7% since setting its 2016 low of $23.10 on Feb. 8.

The daily chart shows that the stock has been above a "golden cross" since Sept. 4, 2014 when the stock closed at $20.86. A "golden cross" occurs when the 50-day simple moving average rises above the 200-day simple moving average indicating that higher prices lie ahead and that's been the case for Masco. The stock is currently above its 50-day and 200-day simple moving averages off $31.26 and $28.33, respectively.

Investors looking to buy Masco should buy weakness to $30.70, which is a key level on technical charts until the end of June. The $31.51 level is in play through May.

Investors looking to reduce holdings should sell strength to $33.10, which is a key level on technical charts until the end of June.

Here's the daily chart for Owens Corning.

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Courtesy of MetaStock Xenith

Owens Corning, the provider of insulation, roofing and siding closed Tuesday at $49.53, up 5.3% year to date and up 27.1% since setting its 2016 low of $38.96 on Feb. 10.

The daily chart shows that the stock had been above a "golden cross" between Feb. 2, 2015 and March 7, 2016. A "golden cross" occurs when the 50-day simple moving average rises above the 200-day simple moving average indicating that higher prices lie ahead and that's been the case for Owens Corning. The stock rose from $39.57 when the cross signal began to $45.23 on March 7. The stock is currently above its 50-day and 200-day simple moving averages off $48.24 and $45.77, respectively.

Investors looking to buy Owens Corning should buy weakness to $46.79 and $45.23, which are key levels on technical charts until the end of May and the end of June, respectively.

Investors looking to reduce holdings should sell strength to $49.95, 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 daily chart for Vulcan Materials.

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Courtesy of MetaStock Xenith

Vulcan Materials, the concrete and cement company closed Tuesday at $115.65, up 21.8% year to date and up 46.7% since setting its 2016 low of $78.83 on Jan. 20.

The daily chart shows that the stock had been above a "golden cross" between Dec. 22, 2014 and Feb. 8, 2016. A "golden cross" occurs when the 50-day simple moving average rises above the 200-day simple moving average indicating that higher prices lie ahead and that's been the case for Vulcan. The stock rose from $66.09 when the cross signal began to $89.22 on Feb, 8. The stock is currently above its 50-day and 200-day simple moving averages off $108.21 and $98.04, respectively.

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 $121.14, 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 TK positions in the stocks mentioned.