Staying NEUTRAL to BULLISH

The bulls managed to save $105 SPY but the bears kept them below $106.20. To me the bulls had a better day. I would like to see a move to $109 on the SPY before I start gobbling up some short positions.

Take a look @ the XLF, we have not been able to close below the $13.50 level. Time after time we either bounce off of it or we trade below it and then save it at the end of the day like we did today.

I'm not W.D. Gann or Arch Crawford, but I ran some numbers and some dates you should be watching for are between this Friday and next Friday. More specifically, 08/27/2010 and especially 08/30/2010. Something might not even happen during those days but those are the dates that keep showing up.

**DO NOT BASE YOUR TRADES JUST BECAUSE OF THESE DATES. CYCLE DATES ARE ONE OF THE WORST TECHNICAL INDICATORS YOU CAN TRADE WITH, THEY SHOULD BE SUPPLEMENTED WITH OTHER TECHNICAL INDICATORS.

XLF:


SPY: