Wizzwatch Weekly Market Newsletter

As the first week of trading in the month of September came to a close, the Nasdaq Composite Index followed by the Standard and Poors 500 and the Dow Jones Industrial Average all advanced to end the week trading on the upside.

The top percentage gainers that helped to push the markets higher during the holiday shortened week were (PPHM) Pergrine Pharmaceuticals +77.17%, (BIOF) Biofuel Energy +54.43%, (HEK) Heckmann Corp. +51.03%, (MRX) Medicis Pharmaceutical +37.86%, and (NAK) Northern Dynasty Minerals Ltd. +37.46%

In the commodity markets the price of silver advanced to the upside as the price of oil declined after moving higher for the past 5 trading weeks.

The top commodity movers in the market during the past week were Silver +6.18%, Copper +5.51%, Palladium +5.39%, S&P GSCI Industrial Metal +5.32%, and S&P GSCI Precious Metal +3.70%.

The Dow Jones Industrial Average began the week trading at 13,092.15 and moved to a price low in the 12,977.09 area before advancing to end the week trading higher.

The Dow has been trading higher to the upside for 9 of the past 13 weeks and is currently above all of its major moving averages with upside resistance at 13,338.71 and downside support at 13,035.34.

The top percentage gainers in the Dow 30 in the past week were (BAC) Bank of America +10.28%, (AA) Alcoa +6.31%, (JPM) JP Morgan Chase +5.82%, (DIS) Disney +4.59%, and (GE) General Electric +4.25%.

The Dow Jones Industrial Average closed to end the week trading at 13,306.64 +215.80 or +1.65% on lighter than average weekly upside trading volume of 2.39 billion. The index is now 27.02 points or 0.205% from a new 52 week price high. The average weekly trading volume for the Dow Jones Industrial Average is 3.08 billion.

At the Nasdaq Composite Index there was also an advance in the price of the index after two weeks of price declines. The index began the week trading at 3,063.25 before declining to a price low at 3,040.24 and ending the week trading higher to the upside.

The Nasdaq has been moving higher to the upside for 11 of the past 14 trading weeks. As for now the index is currently trading above its 5, 10, 32, 50 and 200 week moving averages as it continues to make higher highs and higher lows.

The top percentage gainers in the Nasdaq 100 in the week that passed were (GMCR) Green Mountain Coffee +14.48%, (APOL) Apollo +12.81%, (SHLD) Sears Holdings +10.29%, (GOLD) Randgold Resources +8.25%, (RIMM) Research in Motion +7.47%.

The Nasdaq Composite Index closed to end the week slightly below its 52 week price high at 3,139.61 to end the week trading at 3,136.42 up +69.46 points or +2.26% on lighter than average upside trading volume of 6.56 billion. The average weekly trading volume for the tech weighed Nasdaq Composite Index is 8.04 billion.

The Standard and Poors 500 Index also moved higher during the first week of September after moving lower for the last two trading weeks of August. The index began the week trading at 1,406.54 and moved to a price low at 1,396.56 before moving higher to the upside to end the week.

The S&P 500 has been moving higher to the upside for 11 of the past 15 trading weeks. As for now the index continues to trend above its 5, 10, 32, 50 and 200 week moving averages with upside resistance at 1,438.02 and downside support at 1,390.43.

The top percentage gainers in the Standard and Poors 500 during the week that passed were (ODP) Office Depot +22.88%, (RSH) Radioshack +19.34%, (MS) Morgan Stanley +13.87%, (GME) Gamestop +1352%, and (APOL) Apollo +12.81%.

The S&P 500 ended the week trading at a new 52 week price high to end the week at 1,437.92 up +31.34 or +2.23% on lighter than average upside trading volume of 10.12 billion. The average weekly trading volume for the S&P 500 is 12.63 billion.


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