Summary

• S&P500 index is expected to retrace back down toward the 2345 area for testing first before the price bounces in later in the week. However the non-farm payroll report on Friday and other events earlier in the week may produce some surprises.
• Oil had a nice oversold bounce in the last couple of days. This week $49-48.50 is expected to hold the price up after a substantial rally last week and help oil fight through the overhead resistance line at $52.
• GOLD could go sideways between $1258 and $1225 while it waits for Friday’s non-farm payrolls employment report.

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