Premise for today is to see if 1059.50 - 1055.50 holds and look for potential sideways congestion 1055.50 - 1069.25. There is potential inside resistance at 1069.25. If this holds, bias will be sideways to down. If 1069.25 does not hold, look for test of 1079.50. I will be looking for a test of 1036.50 over the next few days and will have a short bias as long as the price remains below 1079.50. Strategy for today will be to initiate shorts at good prices prior to the move and do not chase. I will play potential squeezes to the long side.
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