Tough read this morning. Premise for today is to test 1210.50 high and see if it holds. I will be looking for initial exhaustion and pull back to potential inside support 1197.50 with the potential for an AM contraction. If 1197.50 holds, look for range 1197.50 - 1210.50. If 1197.50 does not hold, look for move down to new 1187.00 minor support. Structure continues to be bullish and shorts have been constantly squeezed. I will look to initiate longs off 1197.50 and off congestion pull backs to 1210.50 if it extends. I will look to initiate shorts if 1210.50 extends then fails and moves back inside. I will look to buy and sell extremes today. Breakouts and confirmed entries have been getting constantly faked out in the past 2 week. No break evens today.
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