"I am not bullish on the stock market yet. I would like to see a weak earnings season, even if it is just a weakness in performance for the equities post earnings. Short of any news, stock prices will grind up. The CPI number was not bad enough to make a difference. We need many months of a flat CPI in order for wages to catch up," says Bob Iaccino. He is also monitoring trends in crude oil futures (/CL).