Major equity indexes hit new highs
Chris McKhann | email@example.com
Equities advanced again yesterday as all three major indexes climbed to landmark highs, but the CBOE Volatility Index was down only slightly.
The S&P 500 was up 22.40 points to 1675.02, a new closing high. It finished just off the day's highs, which came just before the closing bell. It now has support at 1620 and then 1573.
The Nasdaq 100 was up 58.79 points to 3059.45. While that isn't an all-time high, it is the best since November 2000. It has support at 2950.
The Russell 2000 jumped to another new all-time high of its own, gaining 12.75 points to close at 1033.17. The small-cap index is up 9.5 percent from the low of three weeks ago. It has support at 986.
The VIX slipped 0.20 points, or 1.4 percent, to 14.01. It was down at 13.57 with about 90 minutes left in the session but then had an odd and sharp rebound.
The VIX futures followed suit, ending down but off the lows of the day. The July futures lost 0.35 points to close at 14.50, while the August contracts fell 0.30 points to finish trading at 16.05.
This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) was down 2.7 percent to yet another new low of $17.18. It has lost 26 percent in the last three weeks.
Videocast: VIX not showing panic
March 26, 2015
Despite the market's downturn this week, Group One's Jamie Tyrrell says traders apparently do not believe that the VIX will hit the 20 level.
Videocast: April, August VIX calls
March 25, 2015
As the market selloff accelerates midday, Group One's Mike Palmer says traders are buying protection through VIX calls in April and August.
Videocast: Looking for higher volatility
March 24, 2015
Group One's Jamie Tyrrell says investors are buying upside calls in the VIX and selling puts, looking for the volatility index to push higher.
Videocast: Buying April VIX calls
March 19, 2015
As the market pulls back from yesterday's rally, Group One's Jamie Tyrrell says traders are buying VIX April 22, 26, and 27 calls.
Videocast: VIX settlement at 15.67
March 18, 2015
Group One's Jamie Tyrrell says traders are buying VIX April 22 and 26 calls for protection after a quiet March expiration.