Wizzwatch Weekly Newsletter

As the last trading week in the month of November came to a close in the stock market, the Dow Jones Industrial Average as well as the Standard and Poors 500 declined as the Nasdaq Composite Index moved slightly higher to the upside. The top stocks in the market for the week were companies such as (APRI) Nexmed +42.96%, followed by (AAU) Almaden Minerals +39.78%, (MGIC) Magic Software +33.40%, (INHX) Inhibitex +32.41%, and (CPII) Cpi International +31.45%.

The price of gold, oil, and the dollar moved higher as the week came to and end. The gold index began the week trading at $1,357.70 per troy ounce but ended the week trading slightly higher at $1,363.60 or 0.76%. The gold index maybe poised to move higher to the upside in the week ahead as it continues to remain above its 10 week moving average.

There was also an uptick in the price of the oil index after 2 prior weeks of declines. The oil index ended the week trading at $83.76 per barrel up $1.78 or 2.17% for the week.

The U.S. Dollar continued its advance for the third consecutive week as it moved higher against a basket of major currency pairs. The EUR/USD ended the week trading at 1.3273/76, followed by the GBD/USD at 1.5613/16, USD/JPY at 83.90/94, AUD/USD at 0.9687/91, and the USD/CAD at 1.0162/64.

The Dow Jones Industrial Average began the week trading at 11,201.66 but moved slightly lower as the week came to a close. The index is above is above its 5, 10, and 200 week moving averages but below its 32, and 50 week moving averages. Downside support for the index is in the 10,942.35 area with upside resistance in the 11,451.53 area.

The top stocks in the Dow 30 this week were (HPQ) Hewlett Packard Co. +3.62%, (INTC) Intel Corp. +1.57%, (CAT) Caterpillar +1.23%, (KO) Coca Cola Co. +0.42%, and (HD) Home Depot +0.42%. The Dow ended the week trading at 11,092.00 -111.55 -1.00% on lighter than average downside volume of 2.44 billion. The average weekly trading volume for the Dow Jones Industrial Average is 4.27 billion.

At the tech weighed Nasdaq Composite there was a different story as the index advanced to move higher to the upside. The Nasdaq is currently above its 5, 10, 32, 50 and 200 week moving averages. Downside support for the Nasdaq is in the 2,325.75 area with upside resistance at its previous price high in the 2,592.95 area.

The top price movers in the Nasdaq to help lift it higher as the week came to an end were companies such as (AMZN) Amazon +7.94%, (ALTR) Altera Corp. +7.77%, (BRCM) Broadcom Corp. +7.23%, (CTXS) Citrix Systems +5.85%, and Mylan Laboratories, Inc. +5.61%. The Nasdaq Composite Index ended the week trading at 2,534.56 +16.44 or 0.65% higher to the upside on lighter than average weekly upside volume of 6.0 billion. The average weekly trading volume for the Nasdaq is 10.36 billion.

The Standard and Poors 500 continued its decline to then downside for the third consecutive week. The index is currently above its 32, 50, and 200 week moving averages but below its 5 and 10 week moving averages. This is the first week that the index fell below its 5 week moving average since moving higher to the upside in late September of this year. Downside support for the S&P 500 is in the 1,126.30 area with upside resistance in the 1,227.08 area.

The top price movers in the S&P 500 this week were companies such as (CRM) Salesforce.com +28.97%, (MWW) Monster Worldwide +19.67%, (SNDK) SanDisk Corp. +16.78%, (NYT) New York Times +13.33% and (TSO) Tesoro Petroleum Corp. +9.48%. The Standard and Poors 500 ended the week trading at 1,189.40 -10.33 or -0.86% on lighter than average downside volume of 10.44 billion. The average weekly trading volume for the S&P 500 is 18.92 billion.


By: Marlin Rolle
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