Wizzwatch Weekly Newsletter

As for the week that passed in the stock market all three major indices ended the week slightly higher on the upside. The Nasdaq Composite Index, Standard and Poors 500 and the Dow Jones Industrial Average ended the week higher. The top stocks that helped to push the market higher were (ITMN) Intermune, Inc. +152.46%, (QADB) Qad, Inc., +96.81%, (ADES) Ada-Es, Inc. +64.20%, (MTXX) Matrixx Initiatives, Inc. +58.17%, and (NYMX) Nymox Pharmaceuticals Company +50.01%.

The dollar continued to move highe against a basket of major currenices for 5 of the past 6 weeks. There was also a slight increase in the price of oil as it closed to end the week at $88.37 per barrel up +0.38 or +0.43%. As for the price of gold there was a pullback in its price for the second week in a row. The gold index ended the week trading at $1,374.40 per troy ounce down $11.40 or -0.85% after making a multi year price high the week prior at $1,430.60.

The Dow Jones Industrial Average began the week at 11,406.16 before moving to a price low in the 11,405.33 area. After making the low the indes continued to move higher to the upside. The top price movers in the Dow 30 this week were (KFT) Kraft Foods, Inc. +3.84%, (CAT) Caterpilas, Inc. +2.95%, (DD) Dupont Co. +2.55%, (P) Proctor & Gamble +2.56% and (MRK) Merck & Co. +2.44%.

The index is currently above it's 5, 10, 32, 50 and 200 week moving averages. The Dow Jones Industrial Average has been moving higher to the upside for 3 consecutive weeks. Downside support for the Dow Jones Industrials is in the 10,664.59 area with upside resistance in the 11,519.04 area. The Dow industrials ended the week trading at 11,491.91 up 81.59 points or 0.72% on lighter than average upside volume of 4.25 billion. The average weekly trading for the index is 4.25 billion.

At the Nasdaq Composite Index there was a slight move to the upside as the index continued to move higher for the 4th straight week. The Nasdaq began the week trading at 2,645.35 before moving to a price low in the 2,613.15 area. Downside support for the index is at 2,344.97 with upside resistance at 2,651.35. The Nasdaq is above it's 5, 10, 32, 50 and 200 week moving averages as it continues to move higher.

The top movers in the Nasdaq 100 this week were (JOY) Joy Global,Inc. +8.18%, (NIHD) NII Holding, Inc. +7.81%, (AMGN) Amgen, Inc. +6.55%, (MYL) Mylan Labaratories, Inc. +6.26%, and Warner Chillcott Plc. +5.87%. The Nasdaq ended the week trading at 3 year closing highs at 2,642.97 +5.43 or +0.21% on lighter than average upside volume of 9.71 billion. The average weekly tyrading volume for the Nasdaq Composite Index is 10.30 billion.

The Standard and Poors 500 moved higher to end the week on the upside. The S&P 500 began the week trading at 1,242.52. The index has been moving higher to the upside for the past 3 weeks. Downside support for the S&P 500 is in the 1,132.37 area with upside resistance in the 1,246.73 area.

The top stocks in the S&P 500 this week were (MI) Marshall & Ilsey Corp. +16.10%, (AKS) AK Steel Corp. +11.66%, (BCR) Bar CR +10.61%, (X) USX Steel Corp. +9.87%, and (IRM) Iron Mountail, Inc. +8.16%. The S&P 500 ended the week at 1,243.91 +3.51 on heavier than average volume of 19.31 billion. The average weekly volume for the S&P 500 is 19.01 billion.

By: Marlin Rolle

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