Learn the trade here. Make it on tradeMONSTER™

Options Trading News

July 2, 2012  Mon 12:14 AM CT

Indexes blow through resistance levels

Evan McDaniel | 

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Equity indexes ended last week with a bang as investors embraced the first signs of stabilization in the Eurozone credit crisis.

Buoyed by strength in commodities and the euro, the S&P 500 added 33.12 points on Friday to close at 1362.16. That was a gain of 2.49 percent on the day, propelling the SPX to its highest close since May 8.

The Nasdaq 100 soared 3.12 percent, or 79.07 points, marking its best day of the year. The index closed at over the 2600 level at 2615.72, led by a gain of nearly $15 in shares of Apple.

The Russell 2000 jumped 22.60 points, or 2.91 percent, to close at 798.49.

S&P 500
Resistance is now 1363, followed by 1365.68, 1370, 1373.40, and 1380.
Support is now 1358.92, followed by 1349.67, 1345, 1340, and 1338.78.
Nasdaq 100
Resistance is now 2616, followed by 2622.50, then 2628, 2635.24, and 2645.24.
Support is now 2615.22, followed by 2605.50, then 2597.79, 2590, and 2588.
Russell 2000
Resistance is now 799 (Friday's high), followed by 800.10, 802, and 805.
Support is now 798, followed by 797.44, 792.94, and 790.


Related Stories

SPX

Futures edging higher at key levels

June 18, 2013

S&P 500 futures are fractionally higher, while most overseas markets have posted small gains. Perhaps most importantly, the Japanese yen continued to weaken against the U.S. dollar and euro.

SPX

Stocks set to begin the week higher

June 17, 2013

S&P 500 futures are up more than half a percent while European indexes are gaining more than a full percentage point. Perhaps most important was a rally of almost 3 percent in Tokyo.

SPX

Futures hover after yesterday's rally

June 14, 2013

S&P 500 futures are fractionally higher and European indexes are seesawing in a range, though mostly positive. Asia gained in the overnight session, led by a 2 percent move in Tokyo.

SPX

Futures lower on bloodbath in Japan

June 13, 2013

S&P 500 futures are down along with steeper losses in Europe. The big catalyst today is a 6 percent drop in the Tokyo stock market and a 2 percent surge in the Japanese yen.

SPX

Stocks up after holding key support

June 12, 2013

S&P 500 futures are climbing by two-thirds of a percent and have been gaining all morning, while European markets are posting more modest gains. Asian markets fell overnight.

Premium Services

Free Webinars

Recording

Pete Najarian and Hedgeye: What to do now?

View archived webinars »

Education & Strategy

Why education is key to options

by Chris McKhann, May 29, 2013

People get into option trading for a number of reasons, but there are three primary motivations: to increase income, to...

View more education articles »

DRJ's Blog

Tuesday, Jun. 18, 2013

Brazil lite-um up podcast $GLD $BBRY $WLT $MRK

optionMONSTER stockMONSTER tradeMONSTER