The major indexes closed near highs today and all are above the 50MA. Furthermore, many top quality companies are breaking out and moving higher which is action not typical in a correction. After being in a correction since the 7th of this month, the markets have now resumed their up-trend.

Here’s a chart of the latest action of today’s top performing index:

On top of the breakouts, the major indexes are now over the 50MA and closing near the highs for the day. As so, buying of top quality stocks can now resume with less risk involved.

While many highly ranked stocks at IBD are breaking out (LULU, BIDU, EZPW, & OPEN just to name a few), I like the look of these charts still ranked in the mid 80′s: