Yep, without more sellers coming to the table, the situation very strongly suggests that the price has to move up, as there are few sellers left at the current price.  That said, the market always surprises.

As a bit of an aside, take a look at the broader markets.  Almost everyone thinks a recession is coming.  When that happens, the market often makes fools out of the crowd.  Interestingly we have been 10 years without a recession, I think the longest stretch without one.  But betting on charts/trends alone can be hurtful.  

I'm with Larry Kudlow on this one.

VP