Stocks were up again last week and closed out near the highs, which is textbook bullish price action. We are finally starting to see some bullish momentum confirmation in equities too. Energy was the top sector last week but Crude Oil spot prices fell to a new low to start this week.
U.S. Dollar continues to consolidate but the macro situation remains a tailwind so long as the interest rate differential remains in favor of the U.S. Precious metals are still in a downtrend and are struggling to maintain any sort of meaningful bid. Resistance needs to be cleared before we can entertain the notion that a low is complete.
Cryptocurrencies continued their relief rally but have yet to confirm that the intermediate-term downtrend is over. Interest rates were marginally higher last week too, as the Fed continues to clamp down on liquidity levels.