WizzWatch Weekly Newsletter

As we put the past behind on another week in the stock market all three major indices ended the week on the upside. The Dow Jones Industrial Average, the Nasdaq and S&P 500 all advanced. The Nasdaq is up +6.08% for the month followed by the S&P 500 up + 5.02%, and the Dow Jones Industrials up +4.04%. The top industry groups for the week were Dow Jones REITs +2.3%, Insurance +1.82%, Banks +1.13%, Telecommunications +1.08% and Utilities +1.03%. The biggest stock movers for the week were (SOMX) Somaxon Pharmaceuticals +109.39% followed by (OPMR) Optimal Group +43.29%, (GENT) Gentium +42.67%, (PABK) Pab Bankshares +39.07% and (MDTH) Medcath Corportion +37.66%. The price of gold closed slightly to the upside to end the week trading at $1,106.80 up 0.44% as the price of oil moved lower closing at $80.97 or down -0.70% as the U.S. Dollar moved higher against a basket of currencies. ending the week trading down 0.70% at $80.97 per barrel.

The Dow Jones Industrial Average has been moving to the upside for the past 6 weeks. To end the week the index closed at a 52 week price high after starting the week trading at 10,623.41. The index is above its 5, 10, 32, and 50 week moving averages but below its 200 week moving average at 11,136.55. The top movers in the Dow 30 this week were (AA) Alcoa up +5.55% followed by (GE) General Electric +4.51, (DD) Dupont +3.89%, (KO) Coca Cola Co. +2.05%, and (UTX) United Technologies +1.96%. The Dow Jones Industrial Averages ended the week trading at 10,741.98 up +117.29 or 1.10% on slightly heavier than average weekly trading volume of 4.25 billion. The average weekly trading volume for the Dow Jones Industrials is 4.17 billion.

At the Nasdaq the tech weighed index has been on a upturn now currently up over 6% for the month of March as it breaks into new high ground. The Nasdaq has been on a big move to the upside for 4 of the past 5 trading week. Volume has been building above the average weekly for the past 3 weeks. Upside resistance for the index is at 2,400.09 with downside support in the 2,170 area. The top movers in the Nasdaq 100 for the week that past were (AMGN) Amgen +5.47%, (CHRW) C.H. Robinson Worldwide, (CTAS) Cintas =5.05%, (EXPD) Expedia +4.27%, and (FLEX) Flextronics +4.17%. The Nasdaq is above its currently above its 5, 10, 32, 50 and 200 week moving averages as it continues to make higher highs and higher lows. The index ended the week trading at 2,374.41 +6.75 or 0.29% on heavier than average volume of 11.66 billion. The average weekly trading volume for the Nasdaq Composite Index is 10.59 billion.

Over at the Standard and Poors 500 there was also a move to the upside as the index ended the week trading higher. The S&P began the week trading at 1,148.53 but moved to a low of 1,141.45 before ending the week trading much higher. The index is currently above its 5, 10, 32, and 50 week moving averages but below its 200 week moving average in the 1,226 area. The top movers in the S&P 500 index for the week were (LSI) LSI Corp. +15.29% followed by (FHN) First Horizon Corp. +9.31%, (AET) Aetna +8.98%, (GME) Gamestop Corp. +8.81%, and (CVH) Coventry Health Care +7.41%. To end the trading week the S&P 500 closed at 1,159.90 +9.91 or 0.86% on the upside on heavier than avergae trading volume of 20.08 billion. The average trading volume for the Standard and Poors 500 is 18.89 billion.

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