S&P 500, Markets Still Strong With No Sign of a Top Yet

NEW YORK (TheStreet) -- This was another solid day with markets holding and not showing me any sign of a top yet -- and leading stocks still doing well. It really has been an unexpected and great August, and we're taking advantage of it.

I'm very heavy into stocks now, with 12 stocks and not much margin left.

I get in and out of stocks quickly as the action tells me to. I can't really buy much more, but I have added to a few positions as they told me to, with good results so far.

Let's take a look at the S&P 500 SPDR ETF (SPY)   and see how this nice uptrend remains in place.

Members can see the stocks I've got and get an update on my thoughts of them every evening, or for real-time members, as I make every trade.

The S&P 500 ETF has a great uptrend channel. All we can do is ride it until it breaks.

No sign of a top to me yet.

Depending on the uptrend angle, you can sometimes judge how long it will last. This one can go for a while yet and even break out to the upside before we see any meaningful correction.

At the time of publication, the author held no positions in any of the stocks mentioned.

Follow @iTraderz

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

More from Opinion

Why Ether and Ripple -- But Not Bitcoin -- Prices Might Come Under Pressure Soon

Why Ether and Ripple -- But Not Bitcoin -- Prices Might Come Under Pressure Soon

Daily Chatter: Here's Where the Markets Stand After Tuesday's Beating

Daily Chatter: Here's Where the Markets Stand After Tuesday's Beating

3 New Investing Myths That Must Be Busted

3 New Investing Myths That Must Be Busted

Why a Global Stock Market Crash Is Coming

Why a Global Stock Market Crash Is Coming

Sears CEO Eddie Lampert Looks Like He Is Sucking Company Dry

Sears CEO Eddie Lampert Looks Like He Is Sucking Company Dry