Wizzwatch Weekly Stock Market Newletter

As the week that passed came to a close all three major indices declined after weeks of upside momentum. The Standard and Poors 500, the Dow Jones Industrial Average as well as the Nasdaq declined as the prices of commodities moved higher.

The top stocks that moved higher to the upside as the market declined were (SRZ) - Sunrise Senior Living +59.96%, (SPMD) Supermedia, Inc. +45.08%, (CAS) A.M. Castle & Co. +35.27%, (KTCC) Key Tronic Corp. +32.61%, (USLV) Velocity 3X Silver ETN +29.83%.

In the commodities markets there was advances in the price of precious metals across the board. The prices of gold, silver, platinum, palladium, and copper advanced.

The price of gold ended the week trading at $1,673.40 per troy ounce up $55.90 or +3.46% on lighter than average trading volume of 550,838. Silver also ended the week trading higher as it closed at $30.58 +2.52 or +8.98% on heavier than average volume of 222,270.

The Dow Jones Industrial Average began the week trading at 13,274.58 and moved to a price low at 13,027.20 before ending the week slightly higher. The index is currently above all of its major moving averages as it continues to move higher to the upside.

The Dow has downside support at 12,887.45 with upside resistance slightly above its April 2012 price high at 13,338.71.

The top 5 Dow 30 Stocks that advanced higher in the week that passed were (KFT) Kraft Foods +3.38%, (BAC) Bank of America +2.00%, (MCD) McDonalds +1.79%, (PFE) Pfizer +0.92%, and (CSCO) Cisco Systems, Inc. +0.73%.

At the Nasdaq Composite Index there was also a decline as the tech weighed index declined for the first time in 5 trading weeks. The index began the week trading at 3,072.66 and declined to a low in price at 3,042.22 before ending the week trading higher.

The Nasdaq is 2.10% from a new 52 week price high and is currently above all of its major moving average with downside support at 2,948.21 and upside resistance at 3,134.21.

The top percentage gainers in the Nasdaq 100 in the week that passed were (ALXN) Alexion Pharmaceuticals +4.33%, (CELG) Celgene +4.24%, (NTAP) Network Appliances +3.95%, (KFT) Kraft Foods +3.38%, and (PRGO) Perrigo +3.33%.

As the week came to an end the Nasdaq ended the week trading at 3,069.79 down -6.80 points or -0.22% on lighter than average volume of 7.16 billion. The average weekly trading volume for the Nasdaq Composite Index is 8.27 billion.

The Standrad and Poors 500 index began the week trading at 1,417.85 before declining to a price low at 1,398.04 before moving to a new price high at 1,426.68 but ending the week trading lower.

The index has been moving higher to the upside for 10 of the past 13 weeks before ending the week on the downside. The index is above its 5, 10, 32, 50 and 200 week moving averages with downside support at 1,362.88 and upside resistance at 1,426.71.

The top percentage gainers in the S&P 500 during the week that passed were (CVH) Coventry +19.51%, (URBN) Urban Outfitters +17.61%, (FII) Federated Investors +6.78%, (QEP) QEP Resources +6.31%, (BTU) Peabody Energy Corp. +4.80%.

The Standard and Poors 500 index closed to end the week trading at 1,411.13 down -7.03 points or -0.50% on lighter than average downside trading volume of 10.77 billion. The average weekly trading volume for the S&P 500 is 13.06 billion.

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