Wizzwatch Weeekly Newsletter

As the second week of trading in the month of April came to an end in the stock market both the Dow Jones Industrial Average and the Standard and Poors 500 advanced as the Nasdaq Composite Index declined.

The top industrial indexes in the market this week were Pharmaceuticals +2.96%, REITs +2.82%, Airlines +2.64%, S&P Chemicals +2.11%, and Utilities +1.89%.

The top percentage gainers for the week were (HGSI) Human Genome Sciences +100.00% followed by (ECYT) Endocyte +95.00%, (SGOC) Sgoco Group, Ltd. +59.06%, (ADY) Feihe International +50.14%, and (MLNX) Mellonox Technologies +49.54%.

In the commodities markets there was a decline in the price of gold as it ended the week trading at $1,642.50 per troy ounce down $17.90 or -1.08% as the prices of Palladium, GSCI Industrial Metals, Copper, and Silver advanced.

The Dow Jones Industrial Average began the week trading at 12,850.88 and declined to a price low 8 points below its beginning price at 12,850.80 before ending the week trading higher to the upside.

The Dow has been on the decline for the past 2 trading weeks. The index is currently below its 5 and 10 week moving averages but above its 32, 50 and 200 week moving averages. Downside support for the index is at 132,307.85 with upside resistance at 13,297.22.

The top percentage gainers in the Dow 30 in the past week were (TRV) Travelers +7.97%, (MSFT ) Microsoft +5.19%, (WMT) Wal-Mart +4.48%, (VZ ) Verizon +3.97%, and (PFE) Pfizer +3.25%.

As the week came to a close the Dow Jones Industrial Average closed to end the week trading at 13,029.26 up +179.67 points or +1.40% on lighter than average upside trading volume of 3.51 billion. The average weekly trading volume for the Dow Jones Industrial average is 3.72 billion.

At the Nasdaq Composite Index there was a decline in the index for the third consecutive week in a row. The Nasdaq Composite Index began the week trading at 3,027.57 and declined to a low I price at 2,975.87 before ending the week slightly higher to the upside.

Downside support for the tech weighed index is at 2,764.35 with upside resistance at 3,134.28. As for now the index is above its 32, 50 and 200 week moving averages but below its 5, and 10 week moving averages.

The index is poised to advance in the week ahead but will need to break out above the 3,058.83 area in order to do so.

The top percentage gainers in the Nasdaq were (GILD) Gilead Sciences +12.06% followed by (EBAY) eBay +11.54%, (FFIV) F5 Networks +7.79%, (STX) Seagate Technology +6.68%, and (ISRG) Intuitive Surgical +5.49% as tech giant (AAPL) Apple, Inc. continued its decline for the second week in a row to end the week with a decline of 5.33%.

The Nasdaq Composite Index closed to end the week trading at 3,000.45 down -10.88 points or -0.36% on heavier than average upside trading volume of 8.59 billion. The average weekly trading volume for the Nasdaq is 8.33 billion.

As for the Standard and Poors 500 index after two weeks of downside pressure there was an advance in the price of the index. The index began the week trading at 1,370.27 and declined to a price low in the 1,365.38 area before ending the week trading higher.

Downside support for the index is at 1,288.47 with upside resistance at 1,422.49. As for now the index is currently below its 5, and 10 week moving averages but above its 32, 50 and 200 week moving averages.

The top percentage gainers that helped to push the S&P 500 higher in the week that passed were (GILD) Gilead Sciences +12.06%, (EBAY) eBay +11.54%, (WAG) Walgreen +8.75%, (TRV) Travelers +7.97%, and (HOG) Harley Davidson +7.35%.

The standard and Poors 500 closed to end the week trading on the upside at 1,378.53 up +8.27 points or +0.60% on heavier than average upside trading volume of 14.17 billion. The average weekly trading volume for the S&P 500 is 13.88 billion.

By: Marlin Rolle
*** Please have a close look at the charts listed below ****