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Options Trading News

August 30, 2012  Thu 1:33 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES

Stocks continued to drift higher yesterday, led by technology and small caps.

Strength in shares of Google helped propel the Nasdaq 100 higher by 1.31 points, or 0.05 percent, to 2784.00. GOOG rose 1.59 percent to $688.01, its highest level since early 2008.

The S&P 500 advanced 1.19 points, or 0.08 percent, to 1410.09.

The Russell 2000 continued to outperform its large-cap counterparts on Wednesday, closing higher by 3.56 points, or 0.44 percent, to 817.84.

The small moves occurred at the same time that overall trading volumes were extremely light. Activity has been quiet this week ahead of Labor Day weekend and as investors prepare for the Federal Reserve's Jackson Hole economic summit tomorrow.

S&P 500

Resistance is now 1411.47, followed by Wednesday high of 1413.85, then 1415 and 1420.
Support becomes 1410, followed 1409.61 and Wednesday's low of 1406.57.

Nasdaq 100

Resistance is now 2785, followed by 2790, 2796 and 2800.
Support is now 2782, followed by 2778.94, Wednesday's low of 2771.99 and 2765.

Russell 2000

Resistance is now 818, then Wednesday's high of 819.59, followed by 820 and 822.
Support becomes 816, followed by 815.67, 813.92 and then 811.31.



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