Wizzwatch Weekly Newsletter

As we closed the books on the week that was in the stock market, the Dow Jones Industrial Average declined as well as the Standard and Poors 500 declined as the Nasdaq ending the week on the upside. The pullback was due to a weak jobs report as well as the continuing crisis in Europe due to debt concerns.

The top percentage gainers for the week were (KFS) Kingsway Financial Services +300.00%, (BOOT) Lacross Footwear +80.73%, (PCX) Patriot Coal Corp. +79.51%, (CELL) Brightpoint +64.33%, and (ASUR) Asure Software, Inc. +56.39%.

As for commodities there was a pullback in the price of oil, silver as well as the price of gold. The gold index ended the week trading at $1,584.80 per troy ounce down $#12.40 or -0.78% as oil closed to end the week trading at $84.25 per troy ounce down $0.57 or -0.67%.

The Dow Jones Industrial Average began the week trading at 12,879.71 before declining to a price low at 12,702.99 before closing to end the week slightly higher. The index has been making higher highs and higher lows and has been moving higher to the upside for 3 of the past 5 trading weeks.

The Dow Jones Industrial Average is currently above its 10, 32, 50, and 200 weekly moving averages but below its 5 week moving average. The top percentage gainer in the Dow 30 this week were (WMT ) Wal-Mart +2.35%, (MCD) McDonalds +1.28%, (AXP) American Express +1.07%, (KFT ) Kraft Foods +0.93%, and (T) AT&T +0.60%.

The Dow Jones Industrial Average ended the week trading at 12,772.47 down -107.62 or -0.84% on lighter than average trading volume of 1.92 billion. The average weekly trading volume for the index is 3.4 billion.

The tech weighed Nasdaq Composite Index began the week trading at 2,938.41 and pulled back to a price low at 2,921.37 before ending the week higher. The index currently has downside support at 2,726.68 with upside resistance at 3,134.20.As for now the Nasdaq remains above its 5, 10, 32, 50 and 200 week moving averages.

The top percentage gainers in the Nasdaq 100 were (NFLX) Netflix +19.58%, (GMCR) Green Mountain Coffee +12.49%, (SIRI) Sirius XM Radio +10.27%, (RIMM) Research in Motion +9.61%, and (ROST) Ross Stores +7.44%.

The Nasdaq Composite Index ended the week trading at 2,937.33 up +2.28 or +0.08% on lighter than average upside trading volume of 5.65 billion. The average weekly trading volume for the Nasdaq is 8.25 billon.

The Standard and Poors 500 began the week trading at 1,362.33 and declined to a price low at 1,348.03 before ending the week trading higher. The index is currently above all of its major moving averages with downside support at 1,266.70 and upside resistance at 1,422.40.

The top percentage gainers in the S&P 500 were (AN) Autonation +10.29%, (CHK) Chesapeake Energy +7.74%, (LTD) Limited +7.74%, (ROST) Ross Stores +7.44%, (MU) Micron +6.34%.

The S&P 500 ended the week trading at 1,354.68 down -7.48 or -0.55% on lighter than average downside trading volume of 8.06 billion. The average weekly trading volume for the index is 13.37 billion.

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