As we put a close on the month of September in the stock market the Dow Jones Industrial Average, the Nasdaq and the S&P 500 all ended the week trading lower. The Dow, Nasdaq and S&P 500 all ended the week trading on the downside after moving higher for the past four consecutive weeks. The top price movers for the month of September were (REDF) Rediff.com +172.56% followed by (SIFY) Sify Technologies +140.65%, (KEI) Keithley Instruments +133.32%, (NHWK) Nighthawk Radiology +127.86% and (NUHC) Nu Horizon Electronics +116.51%.
The Dow Jones Industrials began the week trading at 10,860.03 and moved to a price low in the 10,728.64 area before ending the week trading lower. As for now the Dow remains above its 5, 10, 32, and 50 week moving averages but below its 200 week moving average. The top price movers in the Dow 30 were (C) Citigroup +4.87%, (CVX) Chevron Corp. +2.28%, (IBM) International Business Machines +1.14%, (KO) Coca Cola Co. +0.85%, and (T) AT&T, Inc. +0.80%.
The Dow Jones Industrial Average ended the week trading at 10,829.68 down -30.58 points or -0.28% on lighter than average downside trading volume of 3.94 billion. The average weekly trading volume for trhe Dow is 4.33 billion.
At the tech weighed Nasdaq Composite Index there was also a pullback in the price of the index. The Nasdaq moved lower for the first time in the past 5 weeks as it ended the week with a doji candlestick. A doji represents indecision in the rice of a stock or indices so we may see the Nasdaq move lower or higher in the week ahead. The Nasdaq is above its 5, 10, 32, 50 and 200 week moving averages. Downside support is at 2,295.51 with upside resistance at 2,535.28.
The top movers in the Nasdaq 100 this week were (LOGI) Logitech International +8.91%, Check Point Software +6.92%, (LINTA) Liberty Media Holding Corporation +6.78%, (INFY) Infosys Technologies +5.44%, and (KLAC) KLA-Tencor Corp. +4.63%. The Nasdaq ended the week trading at 2,370.75 -10.47 or -0.44% on lighter than average downside volume of 10.47 billion. The average weekly trading volume for the Nasdaq Composite Index is 10.65 billion.
The Standard and Poors 500 began the week trading at 1,148.64 but ended the week trading higher after moving to a low in the 1,132.09 area. As for now the index remains above its 5, 10, 32, and 50 week moving averages but below its 200 week moving average in 1,198.99 area.
The top price movers in the S&P 500 this week were (WAG) Walgreen Co. +10.94%, (PCS) Metro PCS Communications +8.22%, (EQT) Equitable Resources +7.79%, (JCP) JC Penny Co. +7.41%, and (THC) Tenet Healthcare Corp. +7.09%
The Standard and Poors 500 ended the week trading at 1,146.24 down -2.43 points or -0.21% on lighter than average downside trading volume of 16.81 billion. The average weekly trading volume for the S&P 500 is 19.05 billion.
By: Marlin Rolle
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