Slope of Hope Blog Posts

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Any Room Left?

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Well, after the tiny, tiny, tiny little drop we saw in the market last week, it seems everyone – – even EWI, if you can believe that – – is saying that's the only drop we're going to get for now, and we'll just start heading up again during the last week of March. The biggest "reason" for this is window-dressing (so I guess we can expect AAPL at, what, $700/share by Friday?)

There's a little more room to run higher, sure, but at some point this market is going to have to deal with true exhaustion that lasts more than a single trading session. Let me start off with a few charts that are plausibly sorta-kinda bullish. Maybe.

Crude oil, whose front month is shown below, still has a nicely-formed inverted H&S pattern, and as long as it stays above that horizontal line I've drawn, it's pretty solid. This is probably the most bullish chart on my radar.