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In this update, we take a look at recent news and earnings reports from our portfolio stocks, and raise the ratings on Boise Cascade (BCC), Delta Air Lines (DAL) and D.R. Horton (DHI) to Buy.

You should continue to lean bullish, as our Cabot Tides and Two-Second Indicator, along with some secondary indicators (like the S&P 500 blastoff signal), remain positive. We’re adding one new name to the Model Portfolio tonight—Five Below (FIVE)—but will still have about 30% in cash as we wait for the longer-term trend and growth stocks to kick into gear.

All of our market timing indicators are now positive, and yesterday brought yet another “blastoff” signal, so the odds strongly favor higher prices during the next few months. In the Model Portfolio, we’re adding Ligand Pharmaceuticals (LGND) and averaging up on ProShares Ultra S&P 500 Fund (SSO) tonight. Combined with Monday morning’s new buys, that will leave us with about 8% in cash.

Almost everything is up over the past week. The S&P 600 small cap index jumped 4.8% higher to hit 738. It is now up 10% in 2016, sits just four points below its 2015 high, and is officially above my year-end target of 730. None of our stocks were down over the past week.

Stock-specific news flow is still relatively light, but we’re marching toward the beginning of the second-quarter earnings season. A few of our companies have already announced their earnings release dates. We have no ratings changes this week, meaning there are still plenty of stocks rated Buy.

The S&P 500 index is having an orderly pullback, after rising for three weeks. In that light, we’re not likely to see a lot of portfolio action this week. Looking out over the next four weeks or so, these buy-rated portfolio stocks appear best-positioned to rise 5% or more.

While today brings an unexpected new political reality, markets around the world are already adjusting to the new order.

The Emerging Markets Timer is technically positive, but the intermediate-term trend remains mostly neutral.

For now, based on S&P trends, economic growth and the proliferation of easily identifiable undervalued growth stocks, I remain bullish on U.S. stock markets. I’m raising the rating on Big Lots (BIG) to Strong Buy, raising the rating on FedEx (FDX) to Buy, and lowering the ratings on Cardinal Health (CAH) and Intuit (INTU) to Hold.

Remain bullish, but stay tuned. The market’s recent Brexit-induced dip has put our Cabot Tides back on the fence, though our Two-Second Indicator and Cabot Trend Lines are still bullish. A Tides sell signal would cause us to raise more cash, but tonight we’re mostly standing pat; our only change is moving Facebook (FB) to Hold. The Model Portfolio is holding about 20% in cash.

Remain bullish. The overall market remains in great shape, and while a pullback of some sort is possible after a nice run during the past few weeks, the evidence points to higher prices in the weeks and months ahead. In the Model Portfolio, we sold Ligand Pharmaceuticals (LGND) on a special bulletin Monday, replacing it with Amazon (AMZN). We’ll stand pat tonight, though with two open slots (cash position near 16%), we’re aiming to do some new buying in the days ahead.

The market’s action continues to impress, with the S&P 500 hitting new all-time highs and other indexes and leading stocks racing higher. While there are no sure things in the market, the evidence is now strongly bullish—the odds greatly favor higher prices in the weeks and months ahead.

The S&P 500 index had a nice breakout last week. I consider the move to be the beginning of a trend that could easily last for many months. Along the way, there will be pullbacks that will provide good buying opportunities.

Sell Abercrombie & Fitch (ANF) for a 21% gain and Buy Federated Investors (FII).

The Emerging Markets Timer is flashing a buy signal and our stocks are behaving well. Our only move tonight is buying a half position in New Oriental Education (EDU).

Everyone knows the market has done a dramatic U-turn since the punishing two-day, post-Brexit decline, with most indexes making up 80% or more of their declines. The question is, what does it mean?

Today I’m adding Axiall Corp. (AXLL) and Boise Cascade (BCC) to the Buy Low Opportunities Portfolio, and Abercrombie & Fitch Co. (ANF) to the Growth & Income Portfolio.

The S&P 500 appears to be breaking past price resistance, which it has repeatedly pushed up against since early 2015. This is great news! I expect the stock market to surprise people by rising to new highs and establishing a new, higher trading range.

Momo Inc. (MOMO) reported earnings before the open today and the results looked great, with revenue, earnings and guidance all coming in ahead of analysts expectations.

The U.K. has voted to leave the E.U. in a close vote with 52% saying leave and 48% saying stay. Few people really thought the vote would turn out this way.