Stocks are set to start the week on a higher note, after putting in a nice bottom last week during Sunday's futures session. By closing at new highs last week, stocks essentially nullified the previous week's sell signal. We now need to see the Dow make a new high too, otherwise it would turn into a concern.
Cryptocurrencies found a nice bid over the weekend and are now trading at new all-time highs in the case of BTC and ETH. LTC is not far from new multi-year highs.
We saw a few bids in the agricultural sector last week too. The price of livestock surged, as cattle and lean hog prices encroach on multi-year highs. We saw some sideways consolidation in the grain market, which look poised for further upside too. Crude Oil also closed at its highest level since January 2020, which will continue to apply pressure on inflation expectations.
T-Notes closed lower and still run the risk of making new lows. The dollar caught a relief rally last week, but it still hasn't been enough to alter its current downside trajectory. At the moment, it continues to appear as though the currency-depreciation trade is still going.