Wizzwatch Weekly Newsletter

As the stock market came to a close to end the week the Dow Jones Industrials, and the Nasdaq composite Index moved slightly to the upside as the Standard and Poors 500declined. The top industry groups that helped to move the market higher were Transports +3.46%, Disk Drives +3.01%, Networking +2.02%, Computer Hardware +0.65%, and the Internet Index +0.28%. The top stocks in the market this week were (DCAI) Dialysis Corporation +73.15%, (RBPAA) Royal Bancshares of Pennsylvania +68.15%, (JAV) Javelin Pharmaceuticals +61.94%, (ENCO) Encorium Group +61.54%, and (MIPI) Molecular Insight Pharmaceuticals. The prices of gold and oil pulled back to end the week much lower on the downside. Oil closed to end the week trading at $84.67 per barrel as gold ended trading at $1,137.30 per troy ounce down -2.09% for the week.

The Dow Jones extended its gains as continued to moved slightly higher to end the week above 11,000 for the first time in 18 months. The index is above its 5, 10, 32, and 50 week moving averages but below the 200 week moving average in the 11,133.35 area. The index began the week trading at 10,9996.75 but moved to a low of 10,947.77 before ending the week trading at 11,018.66 up 21.31 or +0.19% on heavier than average trading volume of 5.13 billion. The average weekly trading volume for the Dow Jones Industrial Average is 4.08 billion. The top movers in the Dow 30 this week were (HD) Home Depot +4.54%, (IBM) International Business Machines +1.77%, (GE) General Electric Co. +1.35%, (AXP) American Express Co. +1.26%, and (KFT) Kraft Foods +1.05%.

Over at the Nasdaq Composite Index has been on a monster run up for 9 of the pas 10 weeks as it continues to advance higher. The index has been making higher highs and lows as it continues to push the market higher to the upside. The Nasdaq is currently above its 5, 10, 32, 50 and 200 week moving averages. Downside support is at 2,222.83 with upside resistance at 2,517.82. Tech stocks have been leading the way pushing the market higher. The top stocks in the Nasdaq 100 this week were (WCRX) Warner Chilcott +6.64%, (LLTC) Linear Technology Corp. +6.61%, (EXPD) Expeditors Int'l of Washington +6.54%, (INTC) Intel Corp. +6.17%, and (KLAC) KLA - Tecncor Corp. +5.43%. The Nasdaq ended the week trading at 2,481.26 +27.21 +1.11% on heavier than average volume of 13.77 billion. The average weekly trading volume for the tech weighed Nasdaq Composite Index is 11.10 billion.

The Standard and Poors 500 declined to move lower as the Nasdaq and Dow Jones advanced to end the week trading higher. The S&P 500 began the week trading at 1,194.94 but moved to a low in the 1,186.77 area before ending the week trading slightly higher to the upside. The top moves in the S&P 500 this week were (GT) Goodyear Tire & Rubber Co. +10.11%, (MBI) MBIA, Inc. +9.51%, (DV) Devry, Inc. +8.91%, (WPO) Washington Post Co. +8.86%, and (VMC) Vulcan Material Co. +7.35%. The S&P is currently below its 200 week moving average in the 1,224.72 area but above its 5, 10, 32, and 50 week moving averages. To end the trading week the S&P 500 closed at 1,192.13 down 2.24 -0.19% on heavier than average downside volume of 24.07 billion.

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