Building on the bullish momentum of the past several days, stocks kicked into high gear yesterday. Showing the most relative strength to the broad market, the NASDAQ composite jumped 1.8%, the S&P 500 advanced 1.2%, and the Dow Jones Industrial Average climbed 0.9%. All three major indices broke out to close at fresh multi-year highs. The small and mid-cap indices also registered respectable advances, but both remained below resistance of their recent highs. Turnover swelled across the board, pointing to accumulation amongst banks, mutual funds, hedge funds, and other institutions.

For the ETF section of today's commentary, we are doing something a little different.

During yesterday afternoon's Live Q&A Webinar, I (Deron) extensively went over the technical patterns of some of the best ETF's on our radar screen right now. I also provided educational commentary on the power of the "undercut" trade setup, using $QQQ as an example.

Rather than attempting to repeat everything in text format everything that I already thoroughly covered in yesterday afternoon's webinar, I have made available the video of my portion only of yesterday's webinar, and have uploaded it to a private link on our YouTube channel. Tickers discussed in the video include: QQQ, OIH, UNG, EIDO, EPHE, EWS, SMH, and GLD (not necessarily in that order).

Please click here to watch my 18-minute live video analysis of the best ETF setups currently in the market, as well as an educational mini-lesson on the power of the "undercut." For best quality, view video in full screen by clicking icon on bottom right of YouTube video player.

Going into today, four of the five open positions in our model ETF and stock trading portfolio are presently showing unrealized gains ($OIH, $LNKD, $CLDX, and $KDD). $UNG is currently 41 cents below our recent buy entry price, but the technical chart pattern still looks bullish (albeit a bit choppy).

We are also stalking two more ETF and five new stock trade setups for potential swing trading buy entry as well. Regular subscribers of our nightly ETF and stock swing trading report should note our exact trigger, stop, and target prices for these trade setups.

Deron Wagner is the Founder and Head Trader of both Morpheus Capital LP, a U.S. hedge fund, and MorpheusTrading.com, a trader education firm.