Weekend wrap.

After an ugly start, this short week turned out really nice, with SPX running by the close on Thursday right up to the resistance at 1337, were, if you look closely, a potential reverse H&N neckline is.

The pattern obviously needs to be confirmed. Once that done the standard upside target would be 1430, with the caveat that measured moves work better with H&S tops and for the consolidations are largely useless and targets tend to be exceeded. What I have for the target on some other charts is 1440-1460.
Russell 2000 is getting ready for new all-time highs, and I am quite curious how this wave will evolve. I have put an outline for an ending diagonal, but it has potential for better rally than that.

US dollar fell again and seems to be aiming at 70-71 by this summer. Potential falling wedge I drew on daily was obviously a fake as expected. Just to repeat my old opinion about wedges that I usually put as disclaimer when drawing them: Wedges are the least reliable patterns and most of the time they morph into a parallel channel, or extend much further than expected, so trading them is an easy way to lose money.

Silver is obviously making a run at the all-time high of 48 and I wish him good luck.
Oil is looking to challenge 147 before its favorable seasonality ends in July.
Natural gas is making nice progress and could break out next week.
In summary, I am expecting higher prices  and not more than minor pullbacks for now.