Wizzwatch Market Newsletter

As we closed the door on yet another month in the stock market all three major indices continued to advance higher. The Dow  Jones Industrial Average, the Standard and Poors, and the Nasdaq Composite Index all advanced ending the week trading in the upsude. The price of oil also moved higher as the price of gold and silver continued to move lower. 

The Dow Jones Industrial Average began the week trading at 29,339.82 and moved to a record price high at 30,116.51, but ended the week trading 0.68 percent lower. The top movers in the Dow 30 for the week were (BA) Boeing +8.46%, (AXP) American Express +7.16%, (CVX) Chevron +6.54%, (IBM) International Business Machines +6.34% and (JPM) J.P. Morgan Chase & Co, +5.04%. As the market came to a close on Friday the Dow Jones Industrial Average ended the week trading at 29,910.37 up 646.89 or 2.21% on lighter than average trading volume of 1.33 billion.

The Nasdaq Composite Index advanced for a second straight week ending the week at a new closing price high. The top percentage gainers in the tech weighed Nasdaq for the week were (TSLA) Tesla +19.64%, (AAL) American Airlines Group +19.55%, (DLTR) Dollar Tree, Inc. +15.72%, (UAL) United Airlines Holdings, Inc. +13.53%, and (PYPL) Paypal Holdings +9.72%. 

The Nasdaq Composite ended the week trading at 12,205.85 up +3.05.88 or 2.96% on heavier than average upside trading volume of 19.63 billion. The average trading volume for the index is 17.63 billion. 

As for the Standard & Poors 500 the index also advanced to end the week at a weekly closing record price high as it continued too advanced for 3 of the past 5 trading weeks. As for now weekly downside support for the index is currently at 3,508.52 with upside resistance at 3,345.99.

The top percentage gainers in the S&P 500 this week were (CCL) Carnival Corp. +24.24%, (OXY) Occidental Petroleum Corp. +22.76%, (APA) Apache Corp. +21.68%, (AAL) American Airlines +19.55% and (NCLH) Norwegian Cruise Lines +18.46%.

As the week came to a close the index ended the week trading at 3,638.35 +80.81 or +2.27% on lighter than average trading volume of 9.24 billion. The average weekly trading volume for the index is 12.43 billion.

In the commodities trade the prices of gold and silver price continued to decline for the past 3 weeks. The price of gold has been on a decline in price for the past 4 months as it continues to move lower.  The price of silver has also been on a decline for 2 of the past 4 months coming from a price high of $29.92. The silver index closed to end the week trading at $22.64 per ounce as gold closed to end the week at$1,788.10 per ounce down $84.30 or -4.50%.

As for light sweet crude, the oil index continued to advance to the upside for the fourth consecutive week. The index has been moving higher and is currently up 27.21% since the beginning of November. The top advancers in the oil patch for the week were Occidental Petroleum, Apache Corp., Marathon Oil, EOG Resources, and Devon Energy Corp. 

As we closed the books on the month of November the West Texas Intermediate Crude Oil Index closed to end the week trading at $45.53 +3.11 or 7.33% on lighter than average trading volume of 150.1 million. The average weekly trading volume for the oil index is 231.2 million.