Does the US market have enough upward momentum to test new highs this week?

US stocks came within inches of new record highs last week, and will test those records this week if earnings season and Chinese trade talks stay on track.

The bulls scratched off a full check-list of worries last week. Trade negotiations, earnings reports, inflation data and even Brexit developments shifted from the bears' column into the bulls'.

On trade, Treasury Secretary Steven Mnuchin said the US and China had resolved the foreign-exchange issue that was seen as one of the main impediments to a comprehensive deal.