The damage to the bears was confirmed today when the S&P 500 broke out to new 2009 highs, the violation was not large, but it was enough to get us into a new trading range, one in which the bears will not be happy about. Over the next few months there is a high probability that we can visit the low to mid 1100’s. Of course this will not happen overnight but the bears will need to be cautious and continue to play for small pullbacks while the long term bulls can breathe a sigh of relief.

We are still targeting 1055-1065 (change in range has to do with rollover to the December contract) where we expect a small to medium size pullback, once that pullback takes place we will evaluate and try to catch the next ride higher. Our order for a 25% short position still stands at 1045 (ES Dec) and SPY 105.35, there can be further upside but just in case we will start to leg in.

Things are moving along nicely in regards to the website, we are still trying to identify easier ways to navigate through the different options. One thing we are having trouble with is how to account for daytrades. Over the course of a few months we expect there to be quite a few trade alerts, what we are deciding is how to account for these. Do we need to add another page to keep track of them or do we combine them with the swing trades(the page will be massive over time). Hopefully we will come up with a solution soon and let you know the outcome.

**UPDATE**  – If we break 1034 on the ES please cancel all resting orders, we will have to assume we missed the bus and will have to reevaluate. We missed by .05 on SPY – ORDER HAS BEEN CANCELED