From a top-down perspective, not much has changed this year, with the major indexes nearly unchanged in January but remaining in solid uptrends. That said, we’re increasingly encouraged by the action of growth stocks, which are showing renewed power after taking most of the fourth quarter to rest. Of course, earnings season is now underway, with many companies reporting during the next three weeks (including most of our recommended stocks). That makes new buying a little tricky, but our watch list has grown and we’re hopeful to add a new leader or two relatively soon.
