Wizzwatch Weekly Newsletter

The stock market continued to move higher as this week came to an end. The Dow Jones Industrial Average, the Nasdaq and the S&P 500 all ended the week on the upside. All three indices have continued their momentum as they have all moved into new price high territory. The price of gold advanced slightly as the price of oil fell for the week and the dollar continues to advance against a basket of major currencies. The gold index closed to end the week trading at $1,107.10 per troy ounce as oil ended the week trading at $80.00 per barrel. The top movers in the market this week were stocks such as (ABIO) Arca Biopharma, (SSY) Sunlink Health Systems, (BRKS) Bakers Footwear Group, (TWLL) Techwell, and (PMI) PMI Group. The industry group leaders for this week were Airlines + 1.38%, Banks +1.14%, Biotechnology +0.96%, Internet +0.30% and Computer Hardware +0.21%.

The Dow Jones Industrial Average began the week trading at 10,741.00 and moved to a low in the 10,695.13 area before ending the week on the upside. The index is currently above its 5, 10, 32, 50 and 32 week moving averages but below its 200 week moving average at 11,134.41. Upside resistance for the Dow Jones Industrials is in the 2,432.25 area with downside support at 2,183.16. The Dow Jones Industrials have been advancing for 6 of the past 7 weeks as volume continues to increase. The top movers in the index for the week (C) Citigroup +6.68%, (BAC) Bank of America +5.60%, (CAT) Caterpillar +4.15%, (DIS) Walt Disney Co. +4.01% and (KFT) Kraft Foods +3.03%. The Dow ended the week trading at 10,850.36 +1.08.38 or +1.01% higher on slightly lower than average volume of 4.10 billion. The average weekly trading volume for the Dow Jones Industrial Average is 4.16 billion.

At the tech weighed Nasdaq composite Index there was also an advance in the index as it continues to make new highs in price. The Nasdaq has been on a huge run up in price for the 6 of the past 7 weeks and is slightly below new high territory at 2,432.25. The index is above all of its major moving averages. The index is above its 5, 10, 32, 50 and 200 week moving averages as it continues to move higher. Downside support for the index is at 2,183.16 with upside resistance at the high of the week at 2,432.25. The Nasdaq is poised to continue higher in the near term as volume continues to increase. The top movers in the Nasdaq 100 this week were (GRMN) Garmin +10.21%, (FSLR) First Solar +6.53%, (URBN) Urban Outfitters +4.25%, (QCOM) Qualcomm +3.85%, and (AMZN) Amazon +3.52%. The Nasdaq ended the week trading at 2,395.13 +20.72 or +0.87% on the upside on higher than average volume of 12.42 billion. The average weekly trading volume for the Nasdaq is 10.89 billion.

As for the Standard and Poor 500 the index has continued to make higher highs and higher lows as it continues to make new price highs. The index began the week trading at 1,157.25 but ended the week trading much higher after moving as low as 1,152.88. The S&P 500 has been on a run up in price for 6 of the pass 7 weeks. The index is poised to move higher but would need to break above it 200 week moving average at 1,225.86. The index is currently above it 5, 10, 32 and 50 week moving averages but below its 200 week moving average. The top stocks that helped the S&P move higher this week were (LEN) Lennar Corp. +12.28%, (TIE) titanium Metals Corp. +8.72%, (GNW) Genworth Financial +7.94%, (SLM) SLM HOldings Corp. +7.61%, and (C) Citigroup +6.68%. The S&P 500 ended the week trading at 1,166.59 +6.69 or +0.58% on higher than average trading volume of 19.63 billion. The average weekly trading volume for the Standard and Poors 500 is 18.96 billion.

By: Marlin Rolle

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