WizzWatch Weekly Newsletter

As we put a cap on the last week of trading for the month of February 2010. The Dow Jones Industrial Average, the Nasdaq and the Standard and Poors 500 ended the week on the downside. For the month of February the Dow Jones Industrial Average is up 2.56%, Nasdaq up 4.23%, and the S&P 500 is up 2.85%. This week industry group leaders were Transportation +2.82%, Airlines +2.04%, Biotechnology +0.51%, Dow Jones REITs +0.42% and the Philadelphia Bank Index down -0.21%. The top stocks that moved higher for the week (IFLG) Infologix, Inc., (BNE) Bowne and Co., (NUVA) Nuvasive, (DEER) Deer Consumer Products, and (MIL) Millipore Corp. to name a few.

The Dow Jones Industrial Average started the week trading at 10,402.43 but pullback to end the week trading slightly lower. The Dow Jones is currently above its 5, 10, 32, and 50 week moving averages but below its 200 week moving average at 11,147.40. Upside resistance for the Dow Jones Industrial Average is at 10,729.89 with downside support at 9,966.83. The top movers in the Dow 30 this week were (HD) Home Depot up +2.90% followed by (BAC) Bank of America +2.84%, (JPM) JP Morgan Chase & Co. +2.77%, (HPQ) Hewlett Packard Co. +0.45% and (WMT) Wal-Mart Stores +0.44%. The Dow Jones Industrial Average ended the week trading at 10,325.26 -77.09 or down -0.47%.

At the Nasdaq there was also a moved to the downside as the index ended the week trading lower. The Nasdaq has been on the upside 2 of the past 7 weeks. The index is currently above its 5 and 10 week moving averages but below its 200 week moving average at 2,205.47. Downside support for the tech weighted index is at 2,135.24 with upside resistance at 2,236.28. The top movers in the Nasdaq as the week came to an end were (LCAPA) Liberty Media, (ESRX) Express Scripts, (ADSK) Autodesk, Inc. (HOLX) Hologic, Inc., and (JBHT) JB Hunt Transport Services to name a few. The Nasdaq ended the week trading at 2,238.26 down -5.61% or -0.25% on heavier than average downside volume of 11.02 billion. The average weekly trading volume for the Nasdaq is 10.29 billion.

The Standard and Poors 500 also declined to end the week trading on the downside for the first time in the past 2 weeks. The top movers in the S&P 500 this week were (CCE) Coca Cola Entertainment, (DPS) Dr. Pepper Snapple Group, Inc., (MYL) Mylan Laboratories, (GPS) Gap, Inc., and (JDSU) JDS Uniphase. The S&P 500 is currently above its 5, 10, 32, and 50 week moving averages but below its 200 week moving average at 1,228.60. Downside support is at 1,069.01 with upside resistance at 1,150.45. The S&P 500 ended the week trading at 1,104.49 -4.68 or -0.42% on heavier than average volume of 17.88 billion. The average weekly trading volume for the Standard and Poors 500 is 18.71 billion.

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