SPY Thoughts August 5

**These were my thoughts on the SPY ETF to subscribers in my Daily Trade Ideas which includes many, many more charts and setups**

After waiting in this range for the past couple weeks we broke out higher and wouldn’t you know it, our annual family golf tournament fell on that day, Thursday.

Anyhow, Friday was a nice continuation of the breakout but it was a pretty quiet day really with weekly options expiring.

There were definitely a few standouts from earnings reports or just plain old strength like LNKD BIDU AAPL TSLA Z SINA and others.
SPY August 3, 2013

The SPY ETF launched out of it’s range we’ve been talking about daily for a couple weeks Thursday.
As I said, I was on the golf course all day with lots of family, watching things and wishing I’d been in the office.

Family time is very important and it’s rare so many come together, once a year to be exact.

I’ll get another chance to get into this market but I hope you all got long in a big way as that was the trade to make.

Into all-time highs once again is very bullish and I am not shy about position sizing in those types of conditions.

It’s easy money time as long as we remain above $170 for now.

This rally can easily last into September now.

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