Premise for today is to watch for range 1174.50 - 1165.25 until breakout. There could be an early AM contraction. Price made a big move yesterday and is likely to congest. It will be interesting to see if price will move back up off 1165.25 support or congest and make another leg down. The top and bottom of the range will be prone to washout probes. I will look to initiate longs off 1165.25 and shorts off 1174.50 as well as good pull back retests of the range gets extended. I will continue to execute at extremes. Breakouts are not working in this environment. Goal for today is that any losing trades need to be stopped out do to change in premise and not noise from the price action.
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