WizzWatch Market Newsletter

As the first week in the new-year came to a close in the stock market, all three major indices advanced to record price highs. The oil index also moved higher to the upside as silver and gold declined. There were also new price highs for bitcoin as the crypto currency continued to advance for the forth-consecutive month ending the week trading at 40,587.38. The general market is a confirmed uptrend as it continues to advance.

The Dow Jones Industrial Average began the week trading at 30,627.47 and declined to a price low at 29,881.82 before advancing higher to the upside. There were 18 stocks in the Dow 30 that advanced as 12 declined. 

The top percentage gainers in the index for the week were (WBA) Walgreens Boots Alliance +13.37%, (GS) Goldman Sachs Group +10.00% (CVX) Chevron Corp. +7.85%, (JPM) J.P. Morgan Chase & Co. +7.81%, and (CAT) Caterpillar, Inc. +6.72%. The laggard in the Dow 30 this week was (KO) Coca Cola Co. down 6.88%.

The Dow Jones Industrial Average ended the week trading at an all time price high of 31,097.97 up 491.49 points or 1.61% on heavier than average upside trading volume of 2.15 billion. The average weekly trading volume for the index is trading 1.90 billion.

At the Nasdaq the index had one of its best week since 2009 as it also ended the week trading in new price high territory. The Nasdaq started the week trading at 12,958.57 and declined to a price low of 12,543.24 before ending the week trading higher on the upside for the fourth consecutive week in a row. The index has been up 12 of the past 16 weeks.

The top price advancers in the Nasdaq 100 this week were (TSLA) Tesla +24.71%, (NTES) Netease.com +19.40%, (WBA) Walgreens Boots Alliance +13.27%, (BIDU) Baidu, Inc. +11.10%, and (AMAT) Applied Materials, Inc. +10.73%.

As the market came to a close the index closed to end the week trading at an all time price at 12,201.98 +313.69 or 2.43% on heavier than average upside trading volume of 34.93 billion. The average weekly trading volume for the tech weighed index is 19.21 billion. 

As for the Standard and Poors 500 the index continued to move higher to the upside for the second consecutive week. The index began the week trading at 3,764.61 but pulled back to support at the 10 week moving average before ending the week trading higher.

The top movers in the S&P 500 for the week that passed was (LB) L brands +25.71% followed by (ALB) Albermarle Corp. +24.80% the newly added (TSLA) Tesla +24.71%, (FLIR) Flir Systems, and (FCX) Freeport McMoran +19.72%.

The index closed to end the week trading at 3,824.68 in which was a new all time price high up 68.61 points or 1.83% on heavier than average trading volume of 13.23 billion.

As for commodities oil ended the week trading higher for 9 of the past 10 weeks at $52.24 per barrel up $3.72 or 7.67% on heavier than average trading volume as the price of gold and silver fell. The price of gold ended the week trading at $1,835.40 per ounce while silver closed to end the week at $24.64 per ounce down $1.78 or -6.72%.

By Marlin Rolle