Weekly Stock Market Newsletter

As the past week in the stock market came to a close, all three major market indices continued to trend higher. The Dow Jones Industrial Average, the Nasdaq as well as the Standard and Poors 500 advanced.

The top market movers that helped to push the market higher were companies such as (SAVB) The Savannah Bancorp +70.73%, (BSFT) Broad Soft, Inc. +44.51%, (ENOC) Enernoc, Inc. +39.28%, (AERL) Asia Entertainment & Resources, Ltd. +39.20% and (PPHM) Peregrine Pharmaceuticals, Inc. +37.95% to name a few.

There was also a rise in the prices of commodities as the prices of gold, silver, palladium, copper as well oil advanced to end the week on the upside. The price of gold closed to end the week trading at $1,621.50 per troy ounce up $15.30 or +0.95% as the price of oil closed to end the week trading higher for 5 of the past 7 trading weeks. The oil index closed to end the week trading at $93.38 per barrel up $1.97 or +2.16%.

As for the dollar index there was a reversal in the trend as the index rose against a basket of major currency pairs. The index has been declining for the past two trading weeks, but ended trading higher by the end of the  day on Friday.

The Dow Jones Industrial Average began the week trading at 13,099.88 but moved to a price low in the 13,094.96 area before ending the week trading higher. The index has been moving higher to the upside for 8 of the past 10 weeks.

The index is currently above its 5, 10, 32, 50 and 200 weekly moving averages as it closes in on its 52 week price high at 13,333.66 set in April. Downside support for the indices is at 12,035.00 with upside resistance at 13,333.77.

The top percentage gainers in the Dow 30 in the week that passed were (HPQ) Hewlett-Packard +7.89%, (CSCO) Cisco +7.28%, (AA) Alcoa +7.17%, (CAT) Caterpillar +4.61%, and (BAC) Bank of America +4.17%.

The Dow Jones Industrial Average closed to end the week trading at 13,207.95 +111.78 points or +0.85% on lighter than average upside trading volume of 2.25 billion. The average weekly trading volume for the Dow Jones Industrial Average is 3.33 billion.

At the tech heavy Nasdaq Composite Index there was also an advance to the upside. The index began the week trading at 2,978.16 and moved to a price low at 2,974.23 before ending the week trading higher to the upside. Downside support for the Nasdaq is at 2,726.60 with upside resistance at 3,134.25.

The top percentage gainers in the Nasdaq were (FSLR) First Solar +25.62%, followed by (RIMM) Research In Motion +18.60%, (SIRI) Sirius XM Radio +14.81%, (JOY) Joy Global +13.17%, and (GMCR) Green Mountain Coffee +12.94%.

As the market came to a close on Friday the Nasdaq ended the week trading at 3,020.86 up +52.96 points or +1.78% on heavier than average upside trading volume of 8.47 billion. The average weekly trading volume for the tech weighed index is 8.39 billion.

As for the Standard and Poors 500 index there was an advance to the upside as the index indices continued to move higher to the upside for 8 of the past 10 weeks. The S&P 500 has been making higher highs and higher lows as it advances to three month price highs.

The top percentage gainers that helped to push the index higher to the upside in the past week were companies such as (DF) Dean Foods +36.12%, (CSC) Computer Sciences +26.14%, (AKS) AK Steel Holding +20.98%, (API) Advanced Photonix +20.69%, and (JNS) Janus Capital Group +16.53%.

As the week ended the S&P 500 closed 1,405.87 +14.88 or +1.07% on lighter than average upside trading volume of 11.22 billion. The average weekly trading volume for the Standard and Poors 500 is 13.44 billion.

By: Marlin Rolle

*** Please have a close look at the charts below ***