WizzWatch Market Newsletter

 As we closed the door on the past week of trading in the stock market, all three major indices declined to end the week trading lower after moving higher to the upside early on in the week. The oil index edged higher for the third consecutive week as the price of gold declined as the price of silver ended the week trading slightly higher.

The Dow Jones Industrial Average started the week trading at 31,015.37 and moved to an all time price high before ending the week trading lower. As for now downside support for the index is at 30,814.26. The top price advancers in the Dow 30 for the week were (INTC) Intel +11.49% followed by (WBA) Walgreens Boots Alliance +8.21%, (GS) Goldman Sachs Group +3.77%, (AMGN) Amgen +2.94%, and (TRV) The Travelers Cos. +2.57%.

As the trading session came to a close to end the week on Friday the Dow Jones Industrial Average closed at 30,814.26 down -283.71 or 1.91% on heavier than average trading volume of 2.02 billion.

The Nasdaq Composite Index also ended the week trading lower after beginning the week trading at 13,048.78. The index moved to all time prices high at 13,220.16 but closed to end the week on the downside after moving higher to the upside for 4 of the past 5 weeks. As for now downside support for the tech weighed index is at 12,689.51.

The top price advancers in the Nasdaq 100 for the week that passed was (INTC) Intel Corp. +11.49%, (BIIB) Biogen +9.23%, (LRCX) Lam Research Corp. +9.15%, (AMAT) Applied Materials +7.93% and (MELI) Mercardo Libre +7.72%.

The index closed to end the week trading at 12,998.50 -203.47 or -1.54% on heavier than average weekly trading volume of 33.92 billion.As for the Standard and Poors 500 it also declined after moving higher to the upside earlier in the week. The index has been moving higher to the upside for 12 of the past 17 trading weeks. Downside support for the index is at 3,710.01 with upside resistance at 3,823.60. 

The top advancers in the index as the week ended was (ETSY) Etsy, Inc. +16.38%, (GM) General Motors Co. +16.05%, (LLY) Eli Lilly & Co. +14.64%, (VIAC) Viacom CBS +13.08%, and (OXY) Occidental Petroleum +11.50%.

At the close of trading in the market the S&P 500 closed to end the week trading at 3,768.25 -56.43 or -1.48% on heavier than average downside trading volume of 12.71 billion.

As for commodities the price of gold ended the week trading at $1,829.90 per ounce down $5.50 or -0.30%. The gold index has been on a downtrend for 13 of the past 24 weeks as the price of silver edged slightly higher to end the week in positive territory. The price of silver closed to end the week trading at $24.87 up $0.23 or +0.93% on heavier than average upside volume of 41.54 billion. 

As it pertains to light sweet crude oil, the index has been on a huge run up in price for the 10 of the past 11 trading weeks. The index closed to end the week trading at $52.42 up $3.90 or 8.04% on lighter than average upside trading volume of 448.2 million, the average trading volume for the index is 1.12 million. 

By Marlin Rolle