Wizzwatch Weekly Newsletter

As this week came to a close in the stock market there was a move to the upside in the major moving averages. The Dow Jones Industrial Average, the Nasdaq Composite Index as well as the Standard and poors 500 all moved higher to the upside. Both the Dow Jones Industrials as wellas the S&P 500 hit new 2 year price highs with the Nasdaq following behind slightly below its 2 year price high in the 2,766.17 area.

The top industry groups in the market this week were Networking +7.41%, Disk Drives +6.83%, Semiconductors +5.59%, Computer Hardware +5.36%, and Internet +4.60%. The top 5 stocks that helped to push the market higher were (TA) Travel Centers of America +195.57%, (SVLF) Silver Leaf Resorts +80.01%, (DSCI) Derma Sciences +61.99%, (SCON) Superconductor Technologies +58.82%, and (DEPO) DepoMed +58.17%.

There was an uptick in the price of gold as the index move higher to the upside after 4 weeks of price declines. The gold index is poised to move higher to the upside in the week ahead. A break above the $1,357.90 will help the gold index move higher in the near term. The gold index ended the week trading at $1,349.00 up $13.60 or +1.02% higher on the upside.

As for the price of a barrel of oil there was a slight move to the upside as the index ended the week trading at $89.84 per barrel up +0.35 or +0.39% after moving to a new price high earlier in the week at $93.17 per barrel. The oil index may move higher in the week ahead due to tensions in the middle east that continue to exist.

The Dow Jones Industrial Average began the week trading at 11,824.39 but moved to a price low in the 11,817.88 area before ending the week trading higher. The index is currently above its 5, 10, 32, 50 and 200 week moving averages. Upside resistance in the 12,092.55 area with downside support at 11,668.40.

The top 5 price movers in the Dow 30 this week were (PFE) Pfizer +7.41%, (AA) Alcoa, Inc. +6.46%, (XOM) Exxon Mobil Corp. +5.43%, (CSCO) Cisco Systems +5.35%, and (BAC) Bank of America +5.07%. The Dow Jones Industrial Average ended the week trading at 12,092.15 up +268.45 or +2.27% higher on lighter than average upside volume of 3.59 billion. The average weekly trading volume for the Dow Jones Industrial Average is 3.83 billion.

At the Nasdaq Composite Index there was a move to the upside in the index as it moved higher to the upside after 2 prior weeks of declines. The index is currently above it's 5, 10, 32, 50 and 200 week moving averages as it continues to make higher highs and higher lows. Downside support is in the 2,679.35 area with upside resistance in the 2,766.30 area.

The top price movers in the Nasdaq 100 this week were (ERTS) Electronic Arts, Inc. +21.53%, (NWSA) News Corp. +11.87%, (BIDU) Baidu, Inc. +10.46%, (ALTR) Altera Corp. +9.62%, and (ADSK) Autodesk, Inc. +9.31%. The Nasdaq Composite Index ended the week trading at new 2 year price high at 2,769.30 up +82.41 or +3.07% higher on the upside on heavier than average volume of 10.13 billion. The average weekly trading volume for the index is 9.27 billion.

At the Standard and Poors 500 there was also a move to the upside as the index moved higher after 2 prior week of price declines. The S&P 500 began the week trading at 1,276.50 but moved to a price low in the 1,276.50 area before moving higher to the upside. The index is currently above its 5, 10. 32. 50 and 200 week moving averages as it continues to move higher. Downside support in the 1,265.75 area with upside resistance in the 1,311.10 area.

The top price movers in the S&P 500 this week were (JDSU) JDS Uniphase Corp. +34.46%, (ERTS) Electronic Arts, Inc. +21.53%, (EL) Estee Lauder +16.13%, (HAR) Harman Int'l Industries +15.26%, and (RF) Regions Financial Corp. +13.95%. The S&P 500 ended the week trading at 1,310.87 +34.53 or +2.71% on heavier than average upside volume of 17.35 billion. The average weekly trading volume for the index is 16.98 billion.

By: Marlin Rolle

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