Equities break 5-day losing streak
Chris McKhann | firstname.lastname@example.org
Major equity indexes were higher at the end of the day as the S&P 500 and Nasdaq 100 broke their five-day losing streak, while the Russell 2000 posted a new all-time closing high. The CBOE Volatility Index was higher as well, bucking its usual inverse relationship with the SPX.
The S&P 500 was up 5.9 points to close at 1698.67 after again facing immediate resistance at its 10-day moving average. The SPX has resistance at 1730 and support at 1660.
The Nasdaq 100 was up 25.49 points to 3234.04, just off its 13-year closing high from last week. It has resistance at the intraday high of 3248 and support at 3150.
The Russell 2000 was up 4.90 points to 1078.41, a new lifetime closing high. The small-cap index has some resistance just above at 1082 and support at 1040.
The VIX was up 0.05 points to 14.06. The volatility index dipped to 13.58 in the morning, then climbed to 14.40 in short order.
The VIX futures were lower, as the October and November contracts both lost 0.25 points to close at 14.80 and 15.95 respectively. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) was down 1.94 percent to close at $13.62.
Videocast: Near-term pop in VIX?
March 3, 2015
Group One's Jamie Tyrrell says today's action in the VIX pits indicates that traders are positioning for volatility to rise in the near term.
Videocast: Traders see floor in VIX
March 2, 2015
Group One's Jamie Tyrrell says traders are selling March VIX puts, apparently believing that further downside potential in the volatility index is limited.
Videocast: VIX 'cash spread' hedge
February 27, 2015
Group One's Mike Palmer explains the strategy behind a VIX "cash spread" as traders cover positions going into the weekend.
Videocast: Futures see higher VIX
February 26, 2015
Although the spot volatility index remains below 14, Group One's Dominic Savino says the March VIX futures are targeting the 16 level.
Videocast: Low short-term volatility
February 25, 2015
Although a big player is buying VIX March 23 calls, Group One's Mike Palmer says the iPath S&P 500 VIX Short-Term Futures Note (VXX) settled today near 11.