Premise for today is to see if potential inside support 1144.75 holds. If this holds, look for extension of 1151.00 minor resistance and continued grind up. Market continues to be stretched to the upside but the trend is powerful. Overall range is 1136.50 - 1151.00. If 1144.75 does not provide inside support, look for test of 1136.50. If price hits and washes out 1151.00 prior to a test of 1144.75 and comes back down, 1144.75 will be unlikely to hold and the bias will be for a downside correction with a test and likely break of 1136.50. I will be looking to initiate longs if price pushes through 1144.75 and moves back above and shorts with pattern confirmation if 1144.75 does not hold. I will also look for shorts if 1151.00 gets extended and price moves back inside range.
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