Wizzwatch Weekly Newsletter

As this week came to a close in the stock market the Dow Jones Industrial Average and the Standard and Poors 500 declined as the Nasdaq Composite Index moved slightly higher to the upside. There was a decline in the price of gold and silver as the price of oil advanced after moving to the downside the week prior.

The gold index ended the week trading at $1,494.70 per ounce down -0.40 or -0.03% as the price of silver closed lower for the second consecutive week trading at $35.36 down $0.24 or -0.67%. As for the oil index there was an advance in the price of the index as it ended the week trading at $99.66 +2.44 or 2.39%. In order for the oil index to move higher there must be a breakout in price above $105.08 going forward.

As the Dow Jones Industrials and the S&P 500 moved lower the leading industry groups that advanced higher to the upside were Utilities +1.85%, Biotechs +1.79%, Retailers +1.79%, Pharmaceuticals +1.52%, and N. American Telecom +1.04%.

The top stocks in the market this week were companies such as (QTWW) Quantum Fuel Systems +92.86%, followed by (ARTX) Arotech Corp. +79.84%, (TISA) Top Image Systems +57.69%, (VRML) Vermillion +54.91% and (SLP) Simulations Plus +51.04%.

The U.S. Dollar advanced higher to the upside to close above its 10 week moving average for the first time in 17 weeks. The index has been on a decline for 18 of the past 21 weeks. The dollar ended the week trading at 75.78 +0.86 or +1.15%.

The Dow Jones Industrial Average began the week trading at 12,637.83 and moved to a price low at 12,537.17 but ended the week trading slightly higher to the upside.

The index may continue to move to the upside in the week ahead but must remain above its 5 week moving average in the 12,578.57 area going forward. A decline below its 5 week moving average may take the indices lower in the week ahead.

As for now the index is currently above its 5, 10, 32, 50 and 200 week moving averages. Downside support for the Dow Jones Industrial Average is at 11,833.58 with upside resistance at 12,876.10.

The top percentage gainers in the Dow 30 this week were (MCD) McDonalds Corp. +2.61%, (PG) Proctor & Gamble Co. +2.45%, (KFT) Kraft Foods, Inc. +2.38%, (JNJ) Johnson & Johnson +2.08%, and (KO) Coca Cola Co. +1.91%. The index ended the week trading at 12,595.75 down -42.99 or -0.34% on lighter than average downside volume of 3.52 billion. The average weekly volume for the Dow Jones Industrial Average is 3.61 billion.

At the Nasdaq Composite Index there was a slightly higher move to the upside after the index moved lower to the downside the week prior. The index started the week trading at 2,828.24 and declined to a price low in the 2,819.37 before ending the week trading slightly higher. The index is currently above its 5, 10, 32, 50 and 200 week moving averages. Downside support for this tech weighed index is in the 2,681.11area with upside resistance at 2,887.85.

The top movers in the Nasdaq 100 this week were (WCRX) Warner Chilcott +9.49%, (ERTS) Electronic Arts, Inc. +8.97%, (ILMN) Illumina, Inc. +7.14%, (BMC) BMC Software, Inc. +6.76%, and (APOL) Apollo Group, Inc. +6.47%.

The Nasdaq Composite Index ended the week trading at 2,828.47 +0.91 or +0.03% on heavier than average volume of 10.05 billion. The average weekly trading volume for the Nasdaq is 9.55 billion.

The Standard and Poors 500 began the week trading at 1,359.44 but declined to the 1,332.03 area before ending the week trading higher to the upside. The S&P 500 like the Dow Jones Industrials also declined to end the week trading lower for the second consecutive week.

The S&P 500 is currently above its 10, 32, 50 and 200 week moving averages but below it 5 week moving average in the 1,339.73 area. This is the first week that the index closed below its 5 week moving average in 8 weeks. Downside support for the index is at 1,273.38 area with upside resistance at 1,370.65.

The top percentage gainers in the S&P 500 this week were (DF) dean Foods +22.24%, followed by (SYY) Sysco Corp. +11.47%, (M) Macys, Inc. +9.13%, (ERTS) Electronic Arts, Inc. +8.97%, and (ODP) Office Depot, Inc. +8.78%.

The Standard and Poors 500 ended the week trading at 1,337.77 down -2.43 or -0.18% on lighter than average downside volume of 13.59 billion. The average weekly trading volume for the S&P 500 is 15.83 billion.

By: Marlin Rolle

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