Slope of Hope Blog Posts

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Allowing for More Upside

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I'm in a bit of a quandary. Looking at individual stocks, I see almost nothing but short opportunities. Looking at the big indexes, I see the possibility – – but not the certainty – – of more upside of a little over 5%.

The ES, for instance, shown below, has room to run up to as high as 1130.

Picture 1
I'd much prefer the market to simply resume its downturn, but my preferences usually don't matter a whole lot to the market. The word this week is earnings; those are going to drive direction, and none of us know which way things are going to go. It's discomfiting, to say the least.