WizzWatch Weekly Newsletter

As the week that passed came to an end in the stock market there were gains across the board as the Nasdaq Composite Index, the Dow Jones Industrial Average and the Standard & Poors 500 all ended the week on the upside. The Gold Index as well as the Oil index continues to move higher as the price of the U.S. Dollar continues to advance against a basket of currencies due to economic turmoil in the Eurozone. The top industry group movers for the week were Biotechnology +6.67%, Networking +4.48%, Gold & Silver +4.08%, Commodity Related Equities +3.76% and Oil Services +3.67%. The price of gold also moved higher as oil moves closer to breaking above the $83.95 for the first time since in 9 weeks. The top stocks that moved the market higher this week were (TIVO) Tivo, Inc. +84.60%, (CNAM) China Armco Metals +83.21% and (ITMN) Intermune +69.43%, (SWWC) Southwest Water Company +54.02% and (OSIP) Osi Pharmaceuticals +53.94%.

At the Dow Jones Industrial Average there was a move to the upside taking the indices very close to breaking above upside resistance. The Dow Jones Industrial Average is currently above its 5, 10, 32, and 50 week moving averages but below its 200 week moving average at 11,142.34. Upside resistance is at 10,729.99 with downside support at 10,012.86. The top movers in the Dow 30 this week were (AXP) American Expres +5.43%, (DIS) Walt Disney +5.33%, (AA) Alcoa +3.98%, (C) Citigroup +3.24%, and (ADP) Automatic Data Processing +2.88%. The index ended the week trading at 10,566.20 +240.94 or +2.33% on lighter than average trading volume of 3.80 billion. The average trading volume of the Dow Jones Industrial Average is 4.19 billion.

The Nasdaq Composite Index advance higher to end the week above prior upside resistance. The Nasdaq began the week trading at 2,247.40 but moved to a price low at 2,247.33 before ending the week trading higher. Downside support for the tech weighed index is at 2,146.50 with upside support above the close on Friday at 2,326.40. The Nasdaq is above its 5, 10, 32, and 50 week moving averages but below its 200 week moving average at 2,205.39. The top movers in the Nasdaq 100 this week were (QCOM) Qualcomm +8.97%, (PCAR) Paccar +8.83%, (JOYG) Joy Global +7.99%, (SIAL) Sigma Aldrich Corp. +7.40%, and (AKAM) Akamai Technologies +7.39%. The Nasdaq ended the week trading at 2,236.35 +88.09 +3.94% on heavier than average volume of 12.5 billion. The average weekly trading volume for the Nasdaq is 10.5 billion.

The Standard and Poors 500 has been moving to the upside for 3 of the past 4 weeks currently above its 5, 10 , 32 and 50 week moving averages. The index advance to the upside on lighter than average volume of 16.9 billion. The average weekly trading volume for the S&P 500 is 18.55 billion. The top movers that helped to lift the S&P much higher were (NOVL) Novell, Inc. +23.12%, (ANF) Abercrombie & Fitch +15.02%, (TSo) Tesoro Petroleum +13.43%, (AKS) Ak Steel Holding Corp. +11.92%, and (TIE) Titanium Metals +11.89%. Downside support for the S&P 500 is at 1,037.99 with upside resistance at 1,150.45. The S&P 500 ended the week trading at 1,138.70 +34.21 or 3.10%.

By: Marlin Rolle

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