The GMI rose to +5 Tuesday, indicating the beginning of an up-trend. There were 138 new highs and only 67 new lows. The Daily QQQQ and SPY indicators turned positive. And the IBD growth mutual fund index is now above its 50 day moving average, demonstrating that the pros who invest in growth stocks are doing better. 65% of the stocks that have doubled in the past year closed above their 30 day averages, another indication that the growth stocks are recovering. Tuesday was the first day in the new QQQQ up-trend (U-1).
So it is now time to look for stocks to buy. Among the strong stocks that came up in my scan of the market are: BBD, HOLX, RATE, NMTI, ESLR, GOOG, NDAQ, SMTS, THE , BCSI, PRLS, IRIS, TIE. This is a good list to begin to research. All have doubled in the past year and are near their yearly highs.
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