Stock indexes rebound, close green
Chris McKhann | [email protected]
The S&P 500 was up 4.31 points to close at 1690.25. The SPX was down more than 10 points at the morning low but finished just off the high that came right before the close. It has resistance at its intraday high around 1699, while support is now at 1659.
The Nasdaq 100 was up 20.51 points to 3061.67. The NDX was higher the entire day, closing right at the highs of the last couple of days and its 10-day moving average. It has resistance at 3091 and support at 3000.
The Russell 2000 was up 10.35 points to 1054.18, a new record closing high. It has support at 1020. (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 fell 0.21 points to 12.97 after jumping to 13.54 at the open. The volatility index remains much higher than actual volatility. The 10-day historical volatility for the SPX tumbled to 4.8 percent.
The VIX futures were also lower. The August and September contracts were both down 0.30 points to close at 14.50 and 15.90 respectively. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 2.5 percent to $15.56, another record closing low.