Following last week’s weak price action, markets face several hurdles this week.

In addition to NVDA’s earnings and the Fed’s Jackson Hole symposium, WTI is about to break out again…

…and the bond market is still acting up. While the 10Y is flirting with new highs, the DXY is probing new lows.

As a net importer, the US pays a penalty in the form of higher inflation when the DXY sinks. Higher inflation means higher interest rates. And, higher interest rates mean lower stock prices.