Price is sitting on new extension highs. Premise for this morning is to see if price can continue up. I will be looking for a pull back to 1210.50 previous resistance now acting as support. If this holds, look for grinding continuation up. If 1210.50 does not hold, look for test of 1201.25 minor support and potential downward correction to 1187.00. Market continues to be in a powerful trend up. The pattern has been that everytime the price starts to sell a squeeze occurs and the trend makes a grinding higher high. I am going to stick with this until it breaks. I will look to initiate longs off 1210.50 and off 1201.25 if there is a pull back and confirming structure that it will hold. The short side will be tough and caution may cause a miss of a move down. This is OK. I will look to execute at extremes and must stay away from hitting moves after they have initiated.
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