The S&P has completed its measured move to the 4150 levels, and this week, we will see if there is any momentum to break higher.
The critical level to watch for the fib zone is 4000; if it can stay above, then there will be another test of the highs.
With massive economic announcements this week, the news will significantly influence the bullish...
Clearly, anyone tracking the recent Saudi cuts in oil production understands that this mixed with the new Chinese trend of buying oil in yuan and creating the "petroyuan," will generate a price increase based on supply/demand fundamentals.
