Wizzwatch Weekly Newsletter

As the week came to an end in the stock market all three major indices advanced higher for 10 of the past 11 weeks. The Dow Jones Industrials, Nasdaq and S&P 500 all advanced as they continue to make new 52 week price highs. the Nasdaq and Dow Jones are both above their 200 week moving averages as the S&P 500 is following but slighltly below its 200 week moving average. The price of gold and oil also advanced to end the week trading on the upside. The Gold Index ended the week trading at $1,157.60 per troy ounce up $20.30 or 1.78% as the price of oil ended the week trading at $85.12 +0.45 or +0.53% on the upside.

The top stock movers this week were (DEAR) Dearborn Bancorp +176.92% followed by (MBTF) MBT Financial +144.19%, (CHCI) Comstock Homebuilding +85.88%, (FNBN) FNB United Corp. +83.05%, and (PCBC) Pacific Capital Bancorp +77.43%. The top industry groups that lead the market higher were Disk drives +9.12% followed by Oil Services +7.95%, Dow Jones REITs +6.46%, the Philadelphia Bank Index +4.81%, and the Computer Hardware Index +4.76%.

The Dow Jones Industrial Average continued its price run up for 10 of the past 11 weeks as it continues to advance. The index is currently above its 5, 10, 32, 50 and 200 week moving average. The Dow Jones industrials crossed above its 200 week moving average for the first time since June of 2008. Upside resistance is at 11,205.64 with downside support at 10,338.01. The index has been making higher highs and higher lows as it continues to move higher.

The top stocks in the Dow 30 this week were (STX) Seagate Technology Holdings +8.01%, followed by (AXP) American Express co. +5.02%, (UTX) United technologies +3.67%, (HD) Home Depot +3.01% and (CAT) Caterpillar +3.32%. The Dow Jones Industrial Average ended the week trading at 11,204.28 +185.62 +1.68% on heavier than average volume of 4.56 billion. The average weekly trading volume for the Dow Jones industrials is 4.13 billion.

At the tech weighed Nasdaq Composite Index there was a continuation of momentum as the index continues to maike higher price highs. The Nasdaq has been on the run for the past 9 weeks as it advanced to make another new 52 week price high. The Nasdaq is currently above its hioghest price point since September of 2008 as it continues to advance above its major moving averages. The index is currently above its 5, 10, 32, 50 and 200 week moving averages.

The top price movers in the Nasdaq 100 this week were (SHLD) Sears Holdings Corp. +13.21%, (AAPL) Apple, Inc. +9.61%, (SBUX) Starbucks Corp. +9.48%, (ADSK) Autodesk +9.47%, and (STX) Seagate Technology Holdings +8.01%. The Nasdaq ended the week trading at 2,530.15 +48.89 or 1.96% higher on heavier than average trading volume of 12.41 billion. The average weekly trading volume for the Nasdaq is 11.22 billion.

The Standard and Poors 500 moved higher to end at a new 52 week price high. The S&P 500 has not been at this current price level since September of 2008. The top price movers in the S&P 500 this week were (HBAN) huntington Bancshares +30.60% followed by (SNDK) SanDisk Corp. +21.62%, (MI) Marshall & Llsley Corp. +21.05%, (LEN) Lennar Corp. +19.06%, (PHM) Pulte Group, Inc. +18.72%. The index is currently above it 5, 10, 32, and 50 week moving average but below its 200 week moving average at 1,224.58. Upside resistance for the S&P 500 is at 1,217.30 with downside support at 1,109.70. the S&P 500 ended the week trading at 1,217.28 +25.15 +2.11% on heavier than average trading volume of 24.66 billion. The average trading volume for the S&P 500 is 19.49 billion.


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