Wizzwatch Weekly Newsletter

This week was an exciting week in the stock market as the Dow Jones Industrial Average crossed above 11,000 for the first time in 18 months. The Dow Jones Industrial Average, Nasdaq and S&P 500 all moved higher to end the week now at 18 week price highs. All three indices have closed higher for the past 6 weeks as they continue to make higher highs and higher lows. Earnings numbers continue to be strong as the economy improves. The top Industry groups in the market this week were Banks +3.5%, followed by Computer Hardware +3.15%, Gold & Silver +2.27%, Airlines +2.06%, and Transports +1.69%.

The top stocks in the market this week were (PURE) Pure Bio Sciences +95.65%, (NADX) National Dentex Corp. +69.06%, (CPWM) Cost Plus +63.89%, (RNN) Rexhann Pharmaceuticals +62.58%, and (ENCO) Encorium Group +49.56%. The price of gold closed to end the week trading at $1,161.60 +$34.80 or 3.01% higher as the price of oil moved slightly higher. The oil index closed to end the week trading at $84.92 up +0.05 or +0.06% on the upside.

The Dow Jones Industrial Average is at an 18 month price high as it continues to move higher making higher highs and higher lows. The Dow has been on a continued move to the upside for 8 of the past 9 weeks now trading at a new 52 week price high. Upside resistance for the Dow Jones Industrials at 11,000.98 with downside support at 10,238.74. The index is currently above its 5, 10, 32. and 50 week moving averages but below its 200 week moving average at 11,133.33.

The top movers in the Dow 30 were (C) Citigroup +6.81%, (STX) Seagate Technology Holdings +3.57%, (DIS) Walt Disney Co. +2.84%, (AXP) American Express Co. +2.84%, and (BAC) Bank of America +2.59%. The Dow started the week trading at 10,927.95 before moving to a price low at 10,844.09. The index closed to end the week trading higher on the upside at 10,997.35 +70.28 or 0.64% higher to the upside on lighter than average trading volume of 3.55 billion. The average weekly trading volume for the Dow Jones Industrials is 3.97 billion.

At the Nasdaq Composite Index there was a continuation of upside momentum for the sixth straight week. The Nasdaq is currently above its 5, 10, 32, 50 and 200 week moving averages. Downside support is at 2,208.37 with upside resistance at 2,454.12. The index began the week trading at 2,409.48 but closed to end the week trading higher to the upside. The Nasdaq is now at a new 52 week price high as it has continued to show strength.

The top stocks in the Nasdaq 100 this week were (AMZN) Amazon +6.81%, (YHOO) Yahoo, Inc. +6.29%, (WYNN) Wynn Resorts, Ltd. +5.49%, (PPDI) Pharmaceutical Product Development, Inc. +4.46% and (LOGI) Logitech Int'l. +5.20%. The Nasdaq ended the week trading at 2,454.05 +51.47 +2.14% on heavier than average volume of 11.98 billion. The average weekly trading volume for the Nasdaq Composite Index is 10.82 billion.

Over at the Standard and Poors 500, the index moved to an 18 month price high closing to end the week at its highest price point since September of 2008. The top movers in the S&P 500 this week were (MBI) MBIA, Inc. +13.42%, (EK) Eastman Kodak +9.01%, (AIG) American International Group, (IP) International Paper +7.73%, and (EOG) EOG Resources +7.16%. The index began the week trading at 1,178.71 but moved to a price low at 1,175.12 before ending the week trading higher.

The S&P 500 has been moving to the upside for 7 of the past 8 weeks. Upside resistance for the S&P 500 is at 1,194.66 with downside support at 1,098.73 as it continues to move above its 5, 10, 32, 50 moving averages but below the 200 week moving average in the 1,225 area. The Standard and Poors 500 ended the week trading at 1,194.37 +16.27 or 1.38% on lighter than average volume of 17.57 billion. The average weekly trading volume for the S&P 500 is 18.40 billion.


By: Marlin Rolle
*** Please have a close look at the charts below ***