1st I'm not sure I would over-react; but longs should be aware that we may be witnessing DISTRIBUTION on a QUARTERLY timeframe. Prices are attempting to remain above resistance created in 1999.
If price are unable to hold this $70 level it could very well confirm my distributive thesis as it would create a "last point of supply" (LPSY). If prices were to reject this level bulls still have a "safety net" as the long term trend has created support defined by the lower of the around $59. If this level is violated I would recommend protecting any long term profits.
A breakdown of this longer term support would create an "oversold" opportunity allowing buyers to re-enter with less risk; likely returning prices back within the .
On the fundamental side they should benefit from easy money policies, low unemployment and low transportation costs.