Retest of 1210.50 overnight. Premise for this morning is to watch for potential inside support at 1201.25. If this holds, look for retest of 1210.50 and potential sideways market 1201.25 - 1210.50 with an upward bias. If there is no inside support at 1201.25, look for test of 1193.50 and the potential for a deeper correction to 1181.00 over the next couple days. The market continues to be extended to the upside but I will stick with the powerful trend until proven otherwise. I will look to initiate longs off 1201.25 and 1193.50. I will look to initiate shorts off 1210.50 after a failed extension and any break of 1201.25 if there is structure for a downward move.
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