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Options Trading News

May 7, 2012  Mon 12:14 AM CT

Commodity slide leads big market selloff

Evan McDaniel | 

SPX: SEE CHART GET CHAIN FIND STRATEGIES
U.S. equity indexes were pummeled Friday as commodity markets saw a risk-off scenario led by crude-oil futures that fell more than 4.5 percent during regular trading.

The S&P 500 dropped by 22.47 points, or 1.61 percent, to close well below the psychological 1400 level at 1367.96.

The tech space saw steep declines as well, with the Nasdaq 100 shedding 66.67 points, or 2.47 percent, to close at 2637.92. Apple fell by 2.85 percent to close at $565.25, its lowest level in two weeks.

The Russell 2000 fell by 14.75 points, or 1.83 percent, to close at 791.84.

S&P 500
Resistance is now 1372.69, followed by 1377.10, 1382.42, and 1385.
Support is now 1367.97 (Friday's low), followed by 1365, 1362.35, and 1360.
Nasdaq 100
Resistance is now 2648.05, followed by 2655.2 and 2666.31.
Support is now 2637.73 (Friday's low), followed by 2634.15 and 2620.
Russell 2000
Resistance is now 793.71, followed by 795.05 and 796.
Support is now 791.26 (Friday's low), followed by 790 and 788.


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