Well, the indexes closed higher on the day. The SPX has been up 4 straight sessions, while the Nazz has been up for 5 straight. Impressive. Volume levels ran slightly lower than the previous day, so buyers showed a bit less enthusiasm, but still a nice day.
The SPX is thisclose to taking out its April highs - a bullish sign. So while I think the short-term trend has changed, I don't expect it to come in a straight line. That means I would not chase stocks here. Better to be patient, wait for some weakness, and buy your favorite stocks on pullbacks. If you need to generate some ideas, try the links off to the right.