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This Index Matches Dow Jones; 5 Top Stocks Beat FANG



The Russell 2000 engineered a sixth straight up day, rising 1.3% to outperform gains or 0.8% at the S&P 500 and 0.4% at the Nasdaq composite in stocks today. Volume is running mildly higher than the same time Thursday afternoon. Crude oil surged again. Gold rose




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At 3:30 pm ET, the Dow Jones Industrial Average of the day's gains thanks to at least seven of its 30 components rising 3 points or more. It's the only major index to outperform the Russell 2000, a popular gauge for small caps. The Dow also has a very straightforward weekly advance with a 1.4% gain.

Big Wall Street firms and superregions helped lead the upside. JPMorgan Chase (JPM), still in base-building mode, helped lead the Dow Jones with a 3-point lift to 105.49. It markets the highest levels since Dec. 7, when the general market was still in a "market in correction" phase.

But on Jan. 4, Wall Street flashed a day 7 follow-through, a key turning point for stocks.

Since then, highly rated companies in the small, mid- and large-cap fields of the market have staged big gains and nice breakouts.

JPMorgan probably shares a boost on news that Warren Buffett made significant share buys in the money center bank, Bank of America (BAC), Bank of New York Mellon (BK ), PNC Financial (PNC) and other financial giants in the fourth quarter of last year

On Friday, computer networking, generic drug, oil machinery and equipment, US oil and gas exploration, construction and mining gear, plastics, automobile retail, truck and superregional bank stocks paced the advance with gains or 2% or more. Arista Networks (ANET) and Cisco Systems (CSCO) are having a banner week, rising 16% and 5% for the week respectively.

Cisco also staged a new breakout a 49.24 entry in a base that shows elements of a double bottom. Arista is still basing and retook its long-term 40-week moving average.

The S&P SmallCap 600 gained 1.3%, good for a fifth up day in a row. At 973, the 600 is up 15.2% since Jan. 1, vs. a 10.5% lift by the S&P 500.

Faring Better Than The Dow Jones And FANG Stocks

IBD Leaderboard currently features more than a box names that have broken out to new highs or are trading near a proper buy point. 19659004] They include Xilinx (XLNX), TransDigm (TDG), Ciena (CIEN), Starbucks (SBUX) and ] Domino's Pizza (DPZ).

Once a stock stages a breakout, an investor should not chase the stock once it's risen more than 5%. The only exception? What makes a breakaway gap in much the same fashion that Xilinx did on Jan. 24.

The average of the five above names is currently 96 on a scale of 1 (the worst) to 99 (the best).

The composite rating helps IBD readers pinpoint growth stocks with the strongest potential to become true market leaders. It is not used as a timing indicator for buying or selling. That's why good stock charts are for

Why Stock Charts Help Investors

See annotations on the daily and weekly charts of these five names on Leaderboard and how the annotations help any investor learn to buy and sell for maximum gain and minimum downside risk. IBD's investment strategy employs the 3-1 win-loss ratio in which one's winners should produce at least three times the size of losses. Why? This allows an investor to be wrong in stock selection three out of four, yet still break money or make money.

Xilinx has surged nearly 25% since staged a breakaway gap and vaulted over a 95.28 buy point in a cup without act

The programmable logic chip expert also holds a 39.5% gain year to date, better than all the catches

Ciena has crafted a rare ascending base.

A Positive Technical Factor In The Stock Market [19659018] These names represent a breadth of market leadership, plus the current bull run. In the fourth quarter, major indexes such as the Nasdaq composite fall more than 20% below their peaks. That triggered the textbook definition of a bear market.

Read more about why the Jan. 4 follow-through was key for growth stock investors, and how IBD portrayed the action in this Jan. 4 Big Picture column

Please follow Chung on Twitter at @IBD_DChung for more on growth stocks, chart analysis, breakouts and financial markets.

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