For the week, the Dow rose 2.1%, the S&P 500 gained 2.3% and the Nasdaq Composite advanced 3.4%. Stocks finished the week on a positive note. On Friday the Dow rose 45 points to 17873. The S&P 500 gained 9 points to 2099. The Nasdaq Composite was 32 points higher at 4933. The volume totals were reported mixed, higher on the NYSE and lighter on the Nasdaq exchange versus the prior session. Breadth was positive as advancers led decliners 2-1 on the NYSE and on the Nasdaq exchange. There were 50 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, up from the total of 35 on the prior session. New 52-highs solidly outnumbered new 52-week lows on both the NYSE and Nasdaq exchanges.

Charts used courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index has rebounded above its 50-day moving average (DMA) line and rallied near prior highs. The benchmark index finished -1.6% off its record high of last May. 

The market's confirmed uptrend (M criteria) continues as stocks overcame recent pressure. The Dow Jones Industrial Average,S&P 500 Index and the Nasdaq Composite Index have all rebounded above their 50 DMA lines, respectively. Leadership recently improved as more stocks hit new highs. Although very few issues have appeared to meet the fact-based investment system's guidelines or made meaningful headway in recent weeks, the latest expansion in leadership is a reassuring sign. The Featured Stocks Page includes current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts.

The major averages advanced Friday following commentary from the Fed. In a speech this afternoon, Chair Janet Yellen said an improving economy may warrant an interest rate increase in the coming months. On the economic front, first-quarter GDP was revised up to a 0.8% annualized rate from an initial 0.5%. The University of Michigan consumer sentiment index was lowered to 94.7 in May from a previous reading of 95.8.

Financials, Telecom and Technology were the best performing sectors on the session. Bank of America (BAC +1.22%) on expectations for the Fed to raise rates as early as June. Verizon Communications (VZ +0.92%) edged higher on reports it was preparing to make a bid for Yahoo’s (YHOO +2.88%) internet assets. Hewlett-Packard Enterprise Co (HPE +5.0%) and Alphabet (GOOG +1.18%) rose. Materials were the relative underperformer led by CF Industries (CF -4.35%) fell

Treasuries were lower following Janet Yellen’s speech. The 10-year note was down 6/32 to yield 1.85%. In commodities, NYMEX WTI crude ended a choppy session essentially flat at $49.49/barrel. COMEX gold fell 0.9% to $1210.00/ounce.

The Broker/Dealer Index ($XBD +1.09%) and the Bank Index ($BKX +0.92%) both gave the major averages a boost on Friday while the Retail Index ($RLX +0.39%) posted a smaller gain. The tech sector had a bullish bias as the Biotechnology Index ($BTK +1.31%) led the way and the Semiconductor Index ($SOX +0.60%) and Networking Index ($NWX +0.51%) both edged higher.  The Oil Services Index ($OSX +0.58%) rose but the Integrated Oil Index ($XOI -0.10%) sputtered and the Gold & Silver Index ($XAU -3.31%) was a standout decliner.

Charts courtesy www.stockcharts.com

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
TDG - NYSE Transdigm Group Inc AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services	$255.97	+1.19 0.47%	$256.24	421,634 75.29% of 50 DAV 50 DAV is 560,000	$257.30 -0.52%	5/11/2016	$248.33	PP = $245.00
								MB = $257.25
Most Recent Note - 5/26/2016 5:32:59 PM Y - Perched near its "max buy" level, stubbornly holding its ground. Bullish action has continued since highlighted in yellow in the 5/11/16 mid-day report (read here). >>> FEATURED STOCK ARTICLE : Fundamentals Strong Behind Technical Breakout - 5/11/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
CSFL - NASDAQ Centerstate Banks Inc Banks-Southeast	$15.80	+0.04 0.25%	$15.86	290,956 180.72% of 50 DAV 50 DAV is 161,000	$16.59 -4.76%	5/27/2016	$15.80	PP = $16.69
								MB = $17.52
Most Recent Note - 5/27/2016 5:47:21 PM Y - Highlighted in yellow with pivot point cited based on its 4/27/16 high plus 10 cents. Mar '16 marked its 6th consecutive earnings increase above the +25% minimum guideline (C criteria). Subsequent volume-driven gains for new highs are needed to trigger a proper technical buy signal before action may be justified under the fact-based investment system. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Forming Ideal Base and Fundamentals Are Favorable - 5/27/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
MXL - NYSE Maxlinear Inc Cl A Telecom-Infrastructure	$20.27	+0.20 1.00%	$20.40	890,724 61.26% of 50 DAV 50 DAV is 1,454,000	$20.39 -0.60%	5/16/2016	$19.24	PP = $19.20
								MB = $20.16
Most Recent Note - 5/27/2016 5:43:58 PM G - Finished at a new high close with lighter volume behind today's gain. Color code is changed to green after rising above its "max buy" level. Disciplined investors avoid chasing extended stocks too far above prior highs. >>> FEATURED STOCK ARTICLE : Rebounded Above 50-Day Average Following Strong Earnings News - 5/12/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
PATK - NASDAQ Patrick Industries Inc WHOLESALE - Building Materials Wholesale	$53.38	+0.70 1.33%	$53.69	119,302 81.16% of 50 DAV 50 DAV is 147,000	$53.68 -0.56%	5/24/2016	$53.45	PP = $50.68
								MB = $53.21
Most Recent Note - 5/27/2016 5:45:58 PM G - Color code is changed to green after quietly rising above its "max buy" level. Disciplined investors avoid chasing extended stocks. Prior highs define near term support in the $50 area. >>> FEATURED STOCK ARTICLE : Solid Volume-Driven Gain Into New High Territory - 5/24/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
NVEE - NASDAQ N V 5 Global Inc Comml Svcs-Consulting	$27.77	+0.41 1.50%	$27.77	86,990 91.57% of 50 DAV 50 DAV is 95,000	$29.30 -5.22%	4/19/2016	$28.20	PP = $28.10
								MB = $29.51
Most Recent Note - 5/26/2016 5:29:49 PM Y - Consolidating above its 50 DMA line, perched within striking distance of its 52-week high. Completed a new Public Offering on 5/13/16. Members were cautioned - "Such offerings often hinder near-term price progress yet help companies to attract more institutional owners (I criteria)." >>> FEATURED STOCK ARTICLE : Less Volume Behind Gain For Another New High - 5/10/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
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