Premise for today is to see if 1157.75 support holds. If this holds, look for test of 1174.50 and potential range 1174.50 - 1157.75. If 1157.75 does not hold, look for test of 1147.75. I will look to initiate longs off 1157.75 and shorts off 1174.50 with structure. I will also look to buy any pull backs off 1157.75 after it holds and any pull backs to 1174.50 if it extends by more than a few points. I will look to short into 1157.75 if the descending triangle holds on the next pivot.
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