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: 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.
Videocast: VIX falls as Yellen talks
February 24, 2015
Group One's Mike Palmer says traders are betting on lower volatility amid speculation that the Federal Reserve will not hike interest rates before the end of the year.
Videocast: The VIX ahead of Yellen
February 23, 2015
Volatility has calmed down after a rocky open today, but Group One's Mike Palmer says the VIX could move early tomorrow with Senate testimony by Fed Chair Janet Yellen.
Videocast: VIX on eve of settlement
February 17, 2015
The spot volatility index has bounced as expected after the three-day weekend, and Group One's Jamie Tyrrell says the action is in the VIX puts ahead of tomorrow's February expiration.