Rally sends S&P 500 to all-time highs
Chris McKhann | [email protected]
The S&P 500 was up 3.96 points to close at 1597.57, a new closing and intraday high for the index. It fell below 1587 in the first hour of trade but then climbed from there. The index now has support at 1572 and then 1541.
The Nasdaq 100 climbed to its highest level since December 2000, adding more than 20 points to close at 2887.44, just a tick off its session high. Resistance is at 2990, with support at 2822 and then 2750.
The Russell 2000 gained 5.03 points to close at 947.46. That was the high of the day for the small-cap index, which was below 940 early in the session. Its all-time high of 954 remains resistance, while support is at 924 and then 900.
The VIX fell 0.19 points to close at 13.52, its low of the day, after climbing to 14.28 in the first hour of trading. Interestingly, it remains in the range of the last week and well above its March lows even with the S&P 500 at new highs. (The VIX and the SPX usually move inversely.)
The May VIX futures were down 0.30 points to 14.45, while the June futures lost 0.20 points to close at 15.35. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 1.36 percent to 18.89.
The VIX option volume picked up a bit as 449,000 contracts changed hands. Calls made up 341,000 of that volume.