Sunday, May 20, 2012

Wizzwatch Weekly Newsletter

As for the week that was in the stocks market there has been a continuation of price declines across the board for the third consecutive week as the market continued to correct itself. The Dow Jones Industrial Average, the Nasdaq Composite Index as well as the Standard and Poors 500 declined.

The top percentage gainers for the past week were companies such as (ROSG) Rosetta Genomics +129.17%, (UVXY) Pro Shares Ultra VIX Short +62.37%, (TECUA) Tecumseh Products Company +57.06%, (TVIX) Velocity 2X Short VIX ETN +54.06%, and (MGT) MGT Capital Investments +42.51%.

As for the commodity markets, the price of oil continued to decline for 8 of the past 12 weeks as the price of gold advanced for the first time in 3 weeks. The price of gold ended the week trading at 1,590.50 per troy ounce up $9.50 or +0.60% as crude oil closed to end the week at $91.43 per barrel down $4.22 or -4.41%. The top 5 commodity indexes for the week that passed were Natural Gas +12.95%, Copper +4.09%, S&P GSCI Agriculture +2.48%, S&P GSCI Industrial Metals +2.01%, and S&P GSCI Precious Metals +2.01%

The Dow Jones Industrial Average began the week trading at 12,818.49 and declined to a low at 12,336.76 before ending the week trading slightly higher to the upside. The index has been on the decline for the past three weeks. The index is currently above its 50 and 200 week moving averages but below its 5, 10, 20 and 32 week moving averages. As for now downside support is at 12,215.82 with upside resistance at 13,338.66. The index is currently above its 50 and 200 week moving averages but below its 5, 10, and 32 week moving averages.

The top percentage gainers in the Dow 30 in the week that passed week were (WMT) Wal-Mart +5.69%, (VZ) Verizon +0.90%, (T) AT&T +0.21%, (CSCO) Cisco -0.24% and (P&G) Proctor & Gamble -0.25%.

The Dow Jones Industrial Average ended the week trading at 12,369.38 down -451.22 points or -3.52% on heavier than average upside trading volume of 4.01 billion. The average weekly trading volume for the Dow Jones Industrial Average is 3.66 billion.

The Nasdaq Composite began the week trading at 2,907.78 but as the week continued the index declined to a price low in the 2,774.45 area before ending the week slightly higher. The Nasdaq has been on a decline for 6 of the past 7 trading weeks. The index is currently above its 50 and 200 week moving averages with down side support at 2,740.04 and upside resistance at 3,134.17.

The top percentage gainers in the Nasdaq 10 this week were (EXPD) Expedia +26.21%, (AMZN) Amazon .com +19.41%, (WCRX) Warner Chilcott +18.25%, (CTXS) Citrix +10.29%, and (MXIM) Maxim Integrated +9.90%.

The Nasdaq Composite Index ended the week trading at 2,778.79 down -155.03 points or -5.28% on heavier than average downside trading volume of 10.09 billion. The average weekly trading volume for the tech weighed indices is 8.69 billion.

As for the Standard and Poors 500 there was no escape from the declines in the market as it too continued it free fall for 5 of the past 7 trading weeks. Downside support for the S&P 500 is at 1,282.13 with upside resistance at 1,422.38.

The top percentage gainers in the S&P 500 in the week that passed were (CRM) Salesforce +5.66%, (WMT) Wal-Mart +5.07%, (BMC) BMC Software +3.12%, (APOL) Apollo +2.17%, and (PEP) Pepesico +1.98%.

The Standard and Poors 500 ended the week trading at 1,295.22 down -58.17 points or -4.30% on heavier than average downside trading volume of 15.67 billion.

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


















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