S&P 500, Russell 2000 at new highs
Chris McKhann | firstname.lastname@example.org
Equity indexes gained on the day, with two of the three pushing to new record highs while the CBOE Volatility Index declined.
The S&P 500 as up 3.44 points to 1695.53, another record-high close. The SPX broke above 1697 in the morning but then went sideways. It has support at 1652.
The Nasdaq 100 was up 10.30 points to 3055.23, trying to make up some of Friday's losses. It has resistance at 3091 and support at 3000.
The Russell 2000 picked up 2.93 points to close at 1053.41. That wasn't far off the intraday high and is a new closing high. It has support at 1000.
(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns, so I will refrain from listing them.)
The VIX was down 0.25 points, or 1.99 percent, to 12.29--the very low of the day. It remains higher than actual volatility, with the 20-day historical rate of the SPX at 9.3 percent and the 10-day reading at 7.3 percent.
The August VIX futures lost 0.20 points to close at 14.70, and the September futures slipped 0.30 points to 16.20. This had the the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 2.1 percent to $15.83.
VIX up as SPX hits another high
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Equity indexes were mixed and little-changed at the end of yesterday's session, with the S&P 500 barely making new highs and the CBOE Volatility Index rising slightly.
VIX slips as SPX hits new highs
July 24, 2014
Major equity indexes posted more gains yesterday, pushing the S&P 500 to new highs as the CBOE Volatility Index declined again.
Videocast: Target 19 line in VIX
July 23, 2014
Group One's Jamie Tyrrell says traders are targeting the VIX 19 line today, selling calls in August and buying them in October.
VIX down as SPX posts new high
July 23, 2014
A broad market rally pushed the S&P 500 to a new all-time high while sending the CBOE Volatility Index lower by more than 4 percent.
Videocast: Betting on lower volatility
July 22, 2014
As the market rallies today, Group One's Mike Palmer says traders are betting that the recent pops in volatility will be short-lived.