Major equity indexes hit new highs
Chris McKhann | firstname.lastname@example.org
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.
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Videocast: Volatility settles down
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The spot VIX is still higher, but Group One's Jamie Tyrrell says volatility has pulled back from its initial spike this morning as the market digests the Greek situation.
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The CBOE Volatility Index is up 23.75 percent to 17.35 in midday trading, just off its intraday peak and its highest level since Feb. 11.
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After a steady stream of buying recently, Group One's Jamie Tyrrell says a trader sold 75,000 July 17 calls yesterday, and those levels are holding today.