Equities rally through resistance
Chris McKhann | firstname.lastname@example.org
Equity indexes surged yesterday, breaking through key resistance levels. The CBOE Volatility Index climbed with the S&P 500 for the final 90 minutes of trade but still finished lower.
The S&P 500 gained 16.54 points, or 1 percent, to close just off its session high at 1671.71. It has resistance at 1680 and support at 1627.
The Nasdaq 100 rose 36.55 points, or 1.17 percent, to a new 13-year closing high of 3169.93. It now has support at 3055. (When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns, so I will refrain from listing them.)
The Russell 2000 was up 16.53 points, or 1.61 percent, to finish at session high of 1046.08. It has resistance at the August high of 1063 and support at 1000.
The VIX was down 0.22 points, or 1.39 percent, to 15.63. It declined inversely to the SPX's rise until the last two hours, when the VIX bounced off 15.22 and then climbed from there.
The VIX futures were down even more. The September and October contracts both fell 0.70 points, to 15.80 and 16.80 respectively. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 3.72 percent to $15.52.
VIX back above 12 as equities slide
July 28, 2014
Stocks fell on Friday, leaving the major equity indexes almost unchanged on the week while the CBOE Volatility Index climbed back above the 12 level.
VIX up as SPX hits another high
July 25, 2014
Equity indexes were mixed and little-changed at the end of yesterday's session, with the S&P 500 barely making new highs and the CBOE Volatility Index rising slightly.
VIX slips as SPX hits new highs
July 24, 2014
Major equity indexes posted more gains yesterday, pushing the S&P 500 to new highs as the CBOE Volatility Index declined again.
Videocast: Target 19 line in VIX
July 23, 2014
Group One's Jamie Tyrrell says traders are targeting the VIX 19 line today, selling calls in August and buying them in October.
VIX down as SPX posts new high
July 23, 2014
A broad market rally pushed the S&P 500 to a new all-time high while sending the CBOE Volatility Index lower by more than 4 percent.