The market continued to strengthen during the brief pre-holiday session. The GMI is at +4 and very close to +5 when/if the IBD growth mutual fund index turns positive. The GMI-S is now 81, reflecting strong short term up-trends in the major indexes. 73% of the Nasdaq 100 stocks rose on Monday, along with 72% of the S&P 500 stocks and 83% of the Dow 30 stocks. 
There were 117 new highs and only 19 new lows in my universe of nearly 4,000 stocks. 13/16 stocks that hit a new high 10 days ago closed higher on Monday than they did ten days ago. Thus, buying stocks hitting new highs has likely to have been profitable again. 35% of stocks are in an up-trend now, up from 9% on June 20. Monday was the second day in the current QQQQ up-trend.
IBD 100 growth stocks are now out-performing other stocks. 
81% of the IBD 100 stocks from the list on 5/15 advanced, compared with 72% of other stocks. 81% are in a bullish stage 2 up-trend and 81% closed above their critical 30 day averages. 34% of these stocks are now above their closing price on 5/15 when they were listed among the IBD 100. Eight of these stocks hit a new high on Monday: OII, EZPW, CLDN, XPRSA, HOC, FORM, LIFC, EXPD (I own one of these). William O’Neil writes that the first stocks to break out of bases to new highs often become the leaders of a new bull move. I am watching these stocks very closely….
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