Tough read today. Premise for today is for test of 1085.00 and watch for potential inside resistance at 1104.25. If 1104.25 holds, watch for potential sell off to the down side. The squeeze yesterday was significant but price failed to follow through and put in a lower high. Other scenario is 1104.25 - 1085.00 range until breakout. If price holds at 1090.50 (unmarked) this morning, look for a drive up to 1116.50. The key area to watch will be how price comes off these lows. Action yesterday shifted to a selling bias but we are still in major uptrend. I will favor the short side as long as 1104.25 holds but watch for squeezes. I will stay away from shorts if 1104.25 breaks.
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