Equity indexes posted only slight gains yesterday but did manage to reach some new highs. The CBOE Volatility Index was up as well, bucking its usually inverse relationship with the S&P 500.
The SPX was up 1.83 points, or 0.09 percent, to 1951.27. That was yet another record closing high for the index, which also saw a new intraday high of 1955.55 in the morning. Support is at 1900.
The Nasdaq 100 rose 1.17 points, or 0.03 percent, to 3795.74. That closing level and the NDX's intraday peak of 3804.04 in the morning were both new 13-year highs. It has support at 3700.
(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 Russell 2000 was up 10.67 points, or 0.92 percent, to 1175.88. The small-cap index outperformed its peers for a change, but the RUT is still about 30 points short of its March highs. Resistance is at 1190 and support at 1140.
The VIX gained 0.42, or 3.91 percent, to 11.15 as it rebounded from its lowest level in more than seven years. The nine-day CBOE Short-Term Volatility Index (:VXST) rose 0.52 points, or 5.62 percent, to 9.77.
The VIX futures were mixed, with the contracts finishing at 12.20 and the July futures closing at 13.45. That lifted the iPath S&P 500 VIX Short-Term Futures Note (VXX) by 1.29 percent to $30.74.
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