Learn the trade here. Make it on tradeMONSTER

Options Trading News

August 7, 2013  Wed 1:47 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Equity indexes pulled back yesterday but remain in a bullish trend.

The S&P 500 declined 0.57 percent to 1697.37, its first close below 1700 this month. It also managed to hold its 10-day moving average, which is potentially positive in the near term. Support remains at 1670.

The Nasdaq 100 fell 0.67 percent to 3122.20, two days after touching its highest level since the tech bubble collapsed in 2000. Support remains at 3030.

The Russell 2000 suffered the sharpest loss of the three indexes, declining 1.02 percent to 1052, but also held its 10-day moving average. Support remains at 1020.

(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns, so we will not guess at them.)

The CBOE Volatility Index rebounded from long-term support around 12 to close up 7.43 percent to 12.72. The VIX and the S&P 500 usually move in opposite directions.The iPath S&P 500 VIX Short-Term Futures Note (VXX), which is based on the two nearest-month VIX futures contracts, rose 3.07 percent to $14.48.
Share this article with your friends


Related Stories

SPX

Stocks drift higher into long weekend

August 29, 2014

S&P 500 futures are up about 0.25 percent and back near their highs from earlier in the week. European markets are fractionally higher, and Asia was mostly positive overnight.

SPX

Chicago PMI on tap before holiday

August 29, 2014

Today's agenda brings a handful of reports, but trading will probably be light ahead of the Labor Day weekend. Data on personal income and consumer sentiment will accompany the Chicago reading.

SPX

Stocks pull back on Ukraine worries

August 28, 2014

The decline follows news late yesterday that Russian armored troops had entered Ukraine and were fighting in support of pro-Moscow rebels.

SPX

Revised GDP dominates calendar

August 28, 2014

The Commerce Department will report the second-quarter data at 8:30 a.m. ET. Economists forecast a GDP increase of 4 percent, equal to the preliminary estimate at the end of July.

SPX

Stocks take breather at record highs

August 27, 2014

Index futures are up less than 0.1 percent, and Europe is little-changed as investors anticipate monetary stimulus from the European Central Bank. Asian markets closed fractionally higher overnight.

Premium Services

Education & Strategy

It's all skewed up

Most new option traders know little about implied volatility, and learn the hard way. Today we want to help you...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER