5 Things To Watch This Week

1. Cannabis Stocks

The performance of pot stocks has been atrocious since putting in a top back in February of this year. Since then they have been sold relentlessly.

Here's how cannabis ETFs MJ, YOLO, and MSOS have stacked up against the broad market...

However, last week the sector found some buyers and it looks like they may have turned the corner.

MSOS finally got back above the 50-day moving average but what's more impressive is the above-average volume.

But as usual, follow-through will be key...

2. Copper

Copper continues to trade in a very familiar price band, $4-4.50, that it failed to get above several times over the last 15 years.

Will the current breakout in copper prices follow through? Place your bets...

3. Natural Gas

Natural gas prices have trended higher since bottoming last June. They finally broke out to seven-year highs but came right back in last week closing below $5 for the first time since the beginning of September.

I'll be watching to see if prices can hold above $4.50 this week.

4. Agriculture Stocks

Agriculture is not exactly the most exciting sector, especially when the ETF ticker is MOO. 

But, with the strength in agriculture-related commodities the last few months, ag-related stocks have been trending higher and after a brief rest they are breaking out once again.

Ag stocks could have more upside as the rally in agriculture-related commodities/DBA could just be getting started...

5. US Dollar

The US dollar index/DXY is trading at levels not seen since July 2020...

Could the greenback be heading towards the top of its four-year range above 100? If so it could negatively impact the price of commodities if the inverse relationship between the value of the dollar and commodity prices holds up.  

However, this relationship has been less significant over the last few years but it's worth taking into consideration and keeping an eye on.

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