Premise for this morning is to see if 1182.75 support holds. If it holds, look for test of 1193.50 minor resistance and potential range 1193.50 - 1182.75 with a downward bias. Market is way overdue for a correction down but must be aware that the trend has been for a minor correction down then continued pressure up. If 1182.75 does not hold, look for test of 1172.50 support. Read is clear and there are many zones above and below the market. I will look to reduce these areas as the week goes on. Tempo and pace should pick up this week. I will look to initiate longs off 1182.75 and 1172.50. I will look to initiate shorts off 1193.50 after extension failure and pattern breakout shorts of 1182.75.
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