Nasdaq Continues To Lead This Strong Move Higher

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“In bear markets, stocks usually open strong and close weak. In bull markets, they tend to open weak and close strong.” – William J. O’Neill

Great action today as markets continue to move very well as the Nasdaq continues to lead, which is always a good thing, even though it has been some time since we’ve seen it happen.

I continued to buy stocks and am into margin now which is always fun.

When things turn good, it happens quick that I get heavily invested and the opposite is true as well.

I’m holding about 10 stocks now, and they are always reserved for subscribers, which is on the upper end of my comfort zone since I find it hard to really be focused on that many but hopefully I’ll be stopped out of a few positions in the near future to reduce the load.

That said, if all my stocks continue to rise, it’s not the end of the world since there are much worse problems I could have…

Let’s move right into the index charts to begin before we look at all the stocks I have and many more.

When it is quiet, it is quiet but when it is busy, it really takes time and full attention to get the job done.

The window for making money isn’t always that big and we have to take advantage of it while it lasts.

SPY August 20, 2014SPY is continuing nicely higher and straight past 198 as I suggested to subscribers was likely since the Nasdaq shot straight through resistance a few days ago.

Great strong action even if it is on lower volume.

For now, it remains all clear although we are nearing overbought and could see a little rest for a few days shortly.

That would set up new buy points and be a great thing to see.

Enjoy your evening.

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