Wizzwatch Weekly Newsletter

As the books were closed to end the last week of trading in the stock market for 2010the Dow Jones Industrials Average and the Standard and Poors 500 ended the week slightly higher on the upside as the Nasdaq moved lower. All three indices finished the year higher with double digit gains.

The Nasdaq Composite Index ended the year up 17.01% followed by the S&P 500 up +12.73% and Dow Jones Industrial Average up 11.02%. The top stocks in the market this week were (UAM) Universal American +39.97%, (TIII) Tii Network Technologies +19.31%, (CDY) Cardero Resource Corporation, (DHRM) Dehaier Medical Systems +15.79%, and (AFOP) Alliance Fiber Optic Products +13.87%.

The price of gold continued to move higher ending the week trading at $1,420.70 up $41.00 per toy once or 2.97% higher to end the week. The gold index is currently $3.70 from a new all time price high in the $1,424.40 area. The gold index is poised to advance higher in the weeks ahead. As for the price of a barrel of oil there was a pullback in trading this week as the oil index ended the week trading at $91.44 per barrel down -0.07 points or -0.08% slightly below its new 52 week price high at $92.11. With the price of gasoline continuing to rise we may see oil well over the $149.70 all time price high made in July of 2008 by the summer of 2012.

The top sectors in the market for the week were the Gold and Silver Index +2.40%, the Commodity Related Index +1,91%, the AMEX Oil Index +1.75%, Dow Jones REITs +1.59%, and the Oil Services Index +1.25%. For the year 2010 the sector leaders were Airlines +40%, followed by Industrials +24%, Reatilers +24%, Banks +23%, Materials +20%, and Energy +18%.

The Dow Jones Industrials began the week trading at 11,572.81 before moving to a price low in the 11,518.44 area and ending the week trading higher to the upside. The index has been making higher highs and higher lows for 6 of the past 7 weeks. The Dow Jones Industrials is above its 5, 10, 32, 50 and 200 week moving averages. Downside support for the index is in the 10,717.64 area with upside resistance in the 11,625.01 area. The index is poised to continue its momentum to the upside but must break above upside resistance.

The top price movers in the Dow 30 to end the last week of the year were (CSCO) Cisco Systems +2.74%, (BAC) Bank of America +2.14%, (GE) General Electric +1.39%, (VZ) Verizon Communications +0.99%, and (INTC) Intel Corp. +0.91%. The Dow Jones Industrial Average ended the week trading at 11,577.51 +4.02 or +0.03% on lighter than average upside volume of 1.88 billion. The average weekly trading volume for the index is 4.11 billion.

At the Nasdaq there was a slight pullback in the index to end the last week of 2010. The Nasdaq began trading at 2,657.09 before moving to a price low in the 2,645.38 area. The Nasdaq has been moving higher to the upside for 13 of the past 18 weeks. Based on the huge upside momentum run up over the past few weeks it may be time for a pullback in the indices in order to digest some of its move. The Nasdaq is above its 5, 10, 32, 50 and 200 week moving averages. Downside support is in the 2,223.50 area with upside resistance in the 2,675.26 area.

The top movers in the Nasdaq 100 this week were (NVDA) Nvidia Corp. +3.22%, (CSCO) Cisco Systems, Inc. +2.74%, (ERTS) Electronic Arts +2.71%, (GRMN) Garmin Ltd. +2.08%, and (DISH) Echo Star Communications +1.81%. The Nasdaq ended the week trading at 2,652.87 -12.73 or -0.48% on lighter than average downside volume of 5.45 billion. The average weekly trading volume for the Nasdaq is 10.01 billion.

As for the Standard and Poors 500 there was a slightly higher move to the upside in the index as it continued to move higher for 15 of the past 18 weeks. The S&P 500 began the week trading at 1,254.66 but pulled back to the 1,251.48 area before ending the week trading higher to the upside. Downside support for the S&P 500 is in the 1,185.02 area with upside resistance in the 1,262.60 area.

The top price movers in the S&P 500 this week were (APC) Anadarko Petroleum Co., +10.76%, (SHLD) Sears Holdings Corp. +7.79%, (DF) Dean Foods +7.54%, (CNX) Consol Energy +4.48%, and (MON) Monsanto Co. +4.39%. The Standard and Poors 500 ended the week trading at 1,257.64 +0.87 or +0.07%. The S&P 500 ended the week trading at 1,257.64 +0.87 or +0.07% on lighter than average upside volume of 7.61 billion. The average weekly volume for the Standard and Poors 500 is 18.37 billion.

By: Marlin Rolle

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