Wizzwatch Weekly Newsletter

As for the week that passed in the stock market there was a pullback in all three major moving indices. The Dow Jones Industrial Average, the Nasdaq Composite Index as well as the Standard and Poors 500 have all been on a decline for the fourth consecutive week as the market corrects itself.

There was an advance in the price of commodities as silver, gold, and oil all moved higher to the upside after weeks of downside pressure.

The Dow Jones Industrial Average has been moving lower for 4 of the past 5 weeks as the market corrects its self after 6 weeks of price advances. The indices began the week trading at 12,511.36 before moving to a price low at 12,309.52.

As for now the index is above its 10, 20, 32, 50 and 200 week moving averages but below its 5 week moving average at 12,599.73. Upside resistance for the Dow Jones Industrial Average is at 12,876.10 with downside support at 11,923.65.

The top percentage gainers in the Dow 30 this week were (HPQ) Hewlett Packard Co. +2.72%, (JNJ) Johnson & Johnson +1.63%, (AA) Alcoa, Inc. +1.35%, (XOM) Exxon Mobile Corp. +1.30%, (PFE) Pfizer, Inc. +1.16%.

The Dow Jones Industrial Average ended the week trading at 12,441.58 down -70.46 points or -0.56% on lighter than average volume of 3.0 billion. The average weekly trading volume for the indices 3.55 billion.

At the tech weighed Nasdaq Composite Index there was a decline in the index as it continued its move lower for the fourth consecutive week. The index began the week trading at 2,761.96 but moved to a price low in the 2,739.85 before ending the week trading slightly higher to the upside.

The Nasdaq is currently below its 5, and 10 week moving averages but above its 20, 32, 50, and 200 week moving averages. The top percentage gainers in the Nasdaq Composite Index were (HPQ) Hewlett Packard Co. +2.72%, (JNJ) Johnson & Johnson +1.63%, (AA) Alcoa, Inc. +1.35%, (XOM) Exxon Mobile Corp. +1.30%, and (PFE) Pfizer, Inc. +1.16%.

The Nasdaq ended the week trading at 2,796.86 -6.46 points or -0.23% on heavier than average volume of 9.1 billion. The average weekly trading volume for Nasdaq is 9.52 billion.

The S&P 500 began the week trading at 1,333.07 but pulled back to a low in price in the 1,311.80 area before ending the week trading slightly higher. The index is currently above its 20, 32, 50 and 200 week moving averages but below its 5, and 10 week moving averages.

The standard and poors 500 has been on a decline in price for the past 4 weeks. Upside support for the S&P 500 is at 1,370.58 with downside support at 1,288.45.

The top percentage gainers in the S&P 500 this week were (CF) CF Industries Holdings, Inc. +11.60%, (TIF) Tiffany and Co. +10.49%, (BRCM) Broadcom Corp. +9.01%, (AKS) AK Steel Holding Corp. +8.21%, and (EP) El Paso Energy Corp. +7.95%.

The Standard and Poors 500 ended the week trading at 1,331.10 down -2.17 points or -0.16 percent on lighter than average trading volume of 12.70 billion.

By: Marlin Rolle

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