GMI: +4; U-1; Looking for longs
The GMI rose to +4 on Friday. The IBD growth mutual fund index is now above its 200 day average and closing in on its key 50 day average. 
When these mutual fund managers make money in growth stocks, the odds are good that I can. There were 137 new yearly highs in my universe of nearly 4,000 stocks on Friday. Friday was the first day in the new QQQQ up-trend (U-1). The IBD 100 stocks are also coming back. 76% closed above their 30 day averages and 90% are above their MACD signal lines. 
29% of the stocks on the IBD 100 list from 5/15 are now higher than they closed on that day. Eight of them hit a new high on Friday: IBCA, CLDN, LVS, XPRSA, GRMN, HOC, OII, EXPD (I own some of these)……
I am slowly wading into the market on the long side. It remains to be seen whether this rally will hold.
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