Stock Market Newsletter

As the third week of trading for the month of June came to an end, the Dow Jones Industrial Average as well as the Standard and Poors 500 declined as the Nasdaq composite index advanced slightly higher.

The top five stocks that moved higher in the week were (HNR) Harvest Natural Resources +60.56%, (LIVE) Livedeal 57.41%, (XG) Extorre Gold Mines +53.38%, (MDGN) Medgenics, Inc. +48.25%, and (CSUN) China Sunenrgy Co. +42.86%.

The top commodity indices were Natural Gas +6.50%, S&P GSCI Agriculture +5.37%, S&P GSCI Livestock -0.04%, the CRB Index -1.56%, and Copper -2.65%.

The Dow Jones Industrial Average began the week trading at 12,767.02 before it declined to a price low at 12,561.46 before ending the week higher.

As for now the index is currently below its 5 week moving average but above its 10, 32, 50 and 200 week moving averages. Downside support for the Dow Jones Industrial Average is at 12,034.98 with upside resistance at 13,338.76.

The top percentage gainers in the Dow 30 in the week that passed were (MRK) Merck +3.21%, (JPM) JP Morgan Chase +2.74%, (MSFT) Microsoft +2.27%, (UTX) United Tech +0.94%, and (JNJ) Johnson & Johnson +0.92%.

As the week came to a close the Dow Jones closed to end the week trading at 12,640.78 down -126.39 points or -0.09% on heavier than average downside trading volume of 3.80 billion. The average weekly trading volume for the Dow Jones Industrial Average is 3.59 billion.

At the Nasdaq Composite Index there was a slightly different direction of movement as the index closed higher to end the week for the third consecutive week. The Nasdaq began the week trading at 2,872.49 and moved to a price low at 2,853.86 before ending the week trading higher.

Downside support for the tech weighed index is at 2,726.68 with upside resistance at 3,134.27. The index is currently above its 5, 32, 50 and 200 week moving averages but below its 10 week moving average at 2,894.73. In order for the Nasdaq Composite to move higher in the week ahead it must break above the 2,942.30 area going forward.

The top percentage gainers in the Nasdaq Composite in the week that passed were (VRTX) Vertex Pharmaceuticals +7.20%, (DTV) Direct TV +5.79%, (NVDA) Nvidia +5.70%, (EBAY) eBay +5.26% and (NUAN) Nuance Communication +4.90%.

The Nasdaq Composite Index closed to end the week trading at 2,892.42 up +19.62 or +0.68% on heavier than average upside trading volume of 8.97 billion. The average weekly trading volume for the tech weighed index is 8.97 billion.

As the Nasdaq moved slightly higher to the upside to end the week the Standard and Poors 500 declined for the first time in 3 weeks after moving above its 5, and 10 week moving averages the week prior. As for now the index is currently above its 10, 32, 50 and 200 week moving averages but below its 5 week moving average at 1,319.88.

The top percentage gainers in the S&P 500 for the week that passed were (ODP) Office Depot +9.27%, (SVU) Supervalu +7.96%, (CF) CF Industries +7.62%, (TSO) Tesoro Petroleum +6.62%, (STJ) St. Jude Medical +6.61%.

The S&P 500 closed to end the week trading at 1,335.02 down -7.82 points or -0.58% on heavier than average downside trading volume of 14.47 billion. The average weekly trading volume for the S&P 500 is 13.96 billion.

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