Stocks at new highs on mixed day
Chris McKhann | [email protected]
The SPX rose 8.46 points to 1689.37, an all-time closing high. The index also posted a new intraday high of 1693. It has support at 1652.
The Nasdaq 100 lost 7.46 points to finish at 3077.81. The NDX did climb to an intraday high of 3091 before slipping as low as 3072 and then regaining some ground. It may have some resistance at that high, with support at 3000.
The Russell 2000 gained 7.75 points to end the day at 1050.27, a new closing high, after reaching a record intraday high of 1052.46. The small-cap index 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 CBOE Volatility Index was down just 0.01 points to 13.77. It slipped to 13.20 in the first hour of trade and then gained ground from there despite the rally in the S&P 500. The VIX and the SPX usually move inversely.
The August VIX futures lost 0.15 points to close at 15.45, and the September futures fell 0.05 points to 16.90. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 1.7 percent to a new low of $16.53.