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Options Trading News

May 24, 2012  Thu 12:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
U.S. equity indexes spent most of yesterday's session in the red before staging a dramatic late-day rally fueled by rumors that the European Central Bank would back a plan to guarantee depositor funds.

At precisely 2:30 p.m. ET, the S&P 500 bounced off the 1300 level and shot to a session high of 1320.71. It then eased back to close 2.33 points higher on the day at 1318.86, up 0.17 percent and far from its session low of 1296.53.

The Nasdaq 100 added 7.88 points, or 0.31 percent, to close at 2547.08 after buyers defended the 2500 level with conviction--the low print of the day was 2499.30. The tech sector was bolstered by Apple, which rose 2.44 percent to close $13.59 higher at $570.56 a share.

The Russell 2000 outperformed its peers. The small-cap index gained 5.54 points, or 0.73 percent, to settle over the 760 support level at 765.17.

S&P 500
Resistance is now 1320, followed by 1320.71 (yesterday's high), 1325, and 1328.39-1330.
Support is now 1316.90, followed by 1312.28, 1307.86, 1300.29, and 1296.53 (yesterday's low).
Nasdaq 100
Resistance is now 2553.19 (yesterday's high), followed by 2560.28, 2562.21, and 2573.34.
Support is now 2538.43, followed by 2523.28, 2513.94, and 2499.30 (yesterday's low).
Russell 2000
Resistance is now 766.34, followed by 770.23, 773, and 776.49.
Support is now 760, followed by 757.01, 751.45, and 748.50.


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