VIX gains as SPX hits another high

Chris McKhann (chris.mckhann@optionmonster.com)

The S&P 500 posted another record close yesterday, but other equity indexes finished lower. The CBOE Volatility Index was up slightly, bucking its usual inverse relationship with the SPX.

The S&P 500 gained 2.34 points to close at 1762.11, a new closing high. It peaked at 1764.99 about 90 minutes before the close, a new intraday high as well. It has support at 1725.

The Nasdaq 100 rose 1.15 points to 3382.68. Support is at 3250.

The Russell 2000 was barely lower, down 0.37 points to 1117.97. The small-cap index has support at 1087.

(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore will refrain from listing any.)

The VIX gained 0.22 points to 13.31. The volatility index hit 13.72 just after the open and fell as low as 13.22, but it remained positive all day.

The VIX futures were flat. The November and December futures finished unchanged at 14.50 and 15.50 respectively. With that the iPath S&P 500 VIX Short-Term Futures Note (:VXX) was up fractionally to $12.91. 

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