Stocks surged around the world after China said it remains a long-term investor in Europe, which helped the euro snap a losing streak and allowed China's stock market to score a follow-through day (FTD). Volume totals in the US markets were reported lower compared to Wednesday's totals on both major exchanges while the indices ended unanimously higher.  Advancers trumped decliners by an 11-to-1 ratio on the NYSE and they led by over a 6-to-1 ratio on the Nasdaq exchange. There were 9 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher than the 8 issues that appeared on Tuesday. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. 

Overnight, China's foreign exchange regulator quelled rumors that China was going to review its euro holdings. He said the rumors were "groundless" which sparked a world-wide rally and helped allay ongoing contagion woes. In Spain, Jose Luis Rodriguez Zapatero, won parliamentary approval for austerity measures which was another healthy step for the euro. One of the three stock exchanges in China, the Shenzhen stock exchange, scored a follow-through day which bodes well for global capital markets. Over the past few years, China's stock market has moved "ahead" of other stock markets.  For example, China's Shanghai composite hit a low in October 2008, five months before the March 2009 bottom. More recently, the Shanghai Composite placed a near-term top on April 15, two weeks before the S&P 500 printed its 2010 high of 1,219. Despite, China's strong move it is still -20% below its 2010 high which technically defines it as being in a "bear market". In addition, the Shanghai composite is still below both its 50-day and 200-day moving average (DMA) lines which suggest a lot of technical damage must be repaired before this market is off to new highs.

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PICTURED: The S&P 500 Index under cut its early 2010 low on May 25th then managed a positive reversal.  Thursday's gain marked Day 3 of the new rally effort as it challenged its 200 DMA line which may act as resistance.

Financial shares actively participated in Thursday's broad-based rally as the Broker/Dealer Index ($XBD +3.89%) and Bank Index ($BKX +3.99%) tallied large gains.  The Semiconductor Index ($SOX +5.17%) led big tech sector gains as the Networking Index ($NWX +4.40%), Internet Index ($IIX +3.57%), and Biotechnology Index ($BTK +2.19%) posted unanimous gains and the Retail Index ($RLX +3.07%) also helped to positively influence the major averages.  Energy shares also spurted higher as the Integrated Oil Index ($XOI +5.38%) and Oil Services Index ($OSX +2.54%) rose along with defensive groups including the Healthcare Index ($HMO +2.77%) and Gold & Silver Index ($XAU +2.85%).  

Charts courtesy www.stockcharts.com

PICTURED: The Bank Index ($BKX +3.99%) posted a solid gain today after recently finding support near its 200-day moving average (DMA) line.

Grand Canyon Education (LOPE -$0.80 or -3.0% to $25.44) fell on heavy volume today, and the lack of price progress indicates distributional pressure as it pulled back and closed under its 50-day moving average (DMA) line. Now -10.6% off its 52-week high, it has been consolidating for a 7-week period since peaking on 4/13/10, building what may be considered a sound new base.  Technically, its 4/29/10 low of $23.66 is the next important chart support, where further deterioration would raise greater concerns.  The number of top-rated funds owning shares rose from 42 in Jun '09 to 62 Mar '10, providing some reassurance concerning the I criteria of the fact-based investment system. Distributional pressure negated its most recent breakout since it was featured in the 4/13/10 mid-day report (read here) when triggering a technical buy after a "3-weeks tight" type pattern.  Leadership in the Commercial Services - Schools group was a nice reassurance for the L criteria, but subsequently, many for-profit schools have encountered distributional pressure in the wake of recently proposed regulatory changes. Broader market weakness (the M criteria) did nothing to help its chances. Until a follow-through-day helps confirm a solid looking new rally the odds do not look favorable for most stocks being able to rally.

Color Codes Explained :
Y - Better candidates highlighted by our staff of experts.
G - Previously featured in past reports as yellow but may no longer be buyable under the guidelines.

***Last / Change / Volume data in this table is the closing quote data***

Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
BIDU - NASDAQ Baidu Inc Ads INTERNET - Internet Information Providers	$73.50	+5.91 8.74%	$73.50	14,015,147 82.27% of 50 DAV 50 DAV is 17,036,100	$82.29 -10.68%	1/13/2010	$43.13	PP = $42.68
								MB = $44.81
Most Recent Note - 5/27/2010 2:21:52 PM G - Gapped up today. It is extended from any sound base, consolidating above its 50 DMA line. A worrisome negative reversal from its all-time high on 5/13/10 followed a 10:1 stock split. >>> The latest Featured Stock Update with an annotated graph appeared on 5/14/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
BRLI - NASDAQ Bio Reference Labs Inc HEALTH SERVICES - Medical Laboratories and Researc	$22.96	+0.66 2.96%	$23.23	160,887 85.49% of 50 DAV 50 DAV is 188,200	$24.67 -6.94%	2/12/2010	$39.02	PP = $20.49
								MB = $21.51
Most Recent Note - 5/27/2010 2:25:29 PM G - Gapped up today and spent most of the session above its 50 DMA line, now consolidating quietly about -7% from its all-time high. >>> The latest Featured Stock Update with an annotated graph appeared on 5/26/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
CRM - NYSE Salesforce.Com Inc INTERNET - Internet Software and Services	$87.00	+3.25 3.88%	$87.00	2,509,425 121.97% of 50 DAV 50 DAV is 2,057,400	$89.84 -3.16%	3/5/2010	$72.28	PP = $75.53
								MB = $79.31
Most Recent Note - 5/27/2010 2:32:15 PM G - Gapped up today, trading within -4% of its all time high. Recent gains including its positive reversal on 5/21/10 are signs of institutional support recently showing up near its 50 DMA line. For the quarter ended April 30, 2010 it showed only a +7% earnings per share increase, marking its first increase below the +25% minimum guideline in years. >>> The latest Featured Stock Update with an annotated graph appeared on 5/17/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
LL - NYSE Lumber Liquidators Hldgs RETAIL - Home Improvement Stores	$29.80	+1.11 3.87%	$29.84	164,341 44.14% of 50 DAV 50 DAV is 372,300	$33.41 -10.81%	4/22/2010	$29.87	PP = $29.03
								MB = $30.48
Most Recent Note - 5/27/2010 2:35:52 PM G - Another gain with light volume today is helping it rise further above its 50 DMA line and back above its December '09 highs, yet it remains about -12% off its 52-week high and faces some resistance. It has been quietly consolidating for about 5 weeks since its "negative reversal" after hitting an all-time high on 4/26/10 was noted. >>> The latest Featured Stock Update with an annotated graph appeared on 5/19/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
LOPE - NASDAQ Grand Canyon Education DIVERSIFIED SERVICES - Education and; Training Services	$25.44	-0.80 -3.05%	$26.81	1,244,179 303.98% of 50 DAV 50 DAV is 409,300	$28.46 -10.61%	4/13/2010	$27.71	PP = $27.33
								MB = $28.70
Most Recent Note - 5/27/2010 3:14:45 PM G - Heavy volume and lack of price progress indicates distributional pressure as it pulls back near its 50 DMA line today, now -10% off its 52-week high. Consolidating for a 7-week period since peaking on 4/13/10. Technically, its 4/29/10 low of $23.66 is the next important chart support. >>> The latest Featured Stock Update with an annotated graph appeared on 5/27/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
MELI - NASDAQ Mercadolibre Inc INTERNET - Internet Software and; Services	$51.46	+2.10 4.25%	$52.25	603,373 97.63% of 50 DAV 50 DAV is 618,000	$55.75 -7.70%	5/13/2010	$54.21	PP = $55.85
								MB = $58.64
Most Recent Note - 5/27/2010 2:37:56 PM G - Gapped up today, rallying further above its 50 DMA line. Market conditions (M criteria) remain doubtful until a follow-through day from at least one of the major averages confirms that sufficient institutional buying conviction has returned. Its 200 DMA and recent lows define important near-term chart support. >>> The latest Featured Stock Update with an annotated graph appeared on 5/13/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
ROVI - NASDAQ Rovi Corp COMPUTER SOFTWARE andamp; SERVICES - Security Software andamp; Services	$37.74	+0.66 1.78%	$38.21	1,395,588 115.01% of 50 DAV 50 DAV is 1,213,500	$40.06 -5.79%	4/20/2010	$37.62	PP = $38.60
								MB = $40.53
Most Recent Note - 5/27/2010 4:07:51 PM G - Consolidating just -6% from its 52-week high, it posted a gain today on average volume to close just above its 50 DMA line. Its recent chart low ($33.17) defines near-term chart support above its 200 DMA line. >>> The latest Featured Stock Update with an annotated graph appeared on 5/24/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
SUMR - NASDAQ Summer Infant Inc CONSUMER NON-DURABLES - Personal Products	$7.50	+0.11 1.49%	$7.64	84,111 151.82% of 50 DAV 50 DAV is 55,400	$8.21 -8.65%	5/4/2010	$6.85	PP = $7.09
								MB = $7.44
Most Recent Note - 5/27/2010 2:42:22 PM Y - While consolidating above prior chart highs and its 50 DMA line its color code was changed to yellow. Its latest breakout remains intact after enduring distributional pressure. >>> The latest Featured Stock Update with an annotated graph appeared on 5/21/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
ULTA - NASDAQ Ulta Salon Cosm & Frag SPECIALTY RETAIL - Specialty Retail, Other	$24.59	+0.97 4.11%	$24.78	316,207 84.43% of 50 DAV 50 DAV is 374,500	$25.76 -4.54%	3/12/2010	$22.81	PP = $21.72
								MB = $22.81
Most Recent Note - 5/27/2010 2:45:02 PM G - Considerable gain today has it trading within -4% of its 52-week high. Prompt repair of 50 DMA line breach has been an encouraging sign. Recent chart lows define important support to watch. >>> The latest Featured Stock Update with an annotated graph appeared on 5/20/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M