Equity indexes posted more gains yesterday as the CBOE Volatility Index declined again.
The S&P 500 added 3.48 points, or 0.18 percent, to 1987.01 after hitting an intraday peak of 1989.23. Both are new all-time highs for the SPX, which has support at 1955.
The Nasdaq 100 climbed 24.57 points, or 0.62 percent, to 3986.19 after peaking at 3990.64 earlier in the session. Both of those are new 13-year highs for the NDX, which has support at 3880.
(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 tacked on 1.96 points, or 0.17 points, to finish at 1158.11. The small-cap index finally closed back above its 10-day moving average but remains well below its 20-day line and last month's highs. Resistance is at 1180 and support at 1130.
The VIX was down 0.72 points, or 5.88 percent, to 11.52. That was about the session low for the volatility index. The nine-day CBOE Short-Term Volatility Index (:VXST) fell 0.71 points, or 6.15 percent, to 10.83.
The VIX futures were higher on the day, with August contracts at 13.05 and September futures at 13.85. That pushed the iPath S&P 500 VIX Short-Term Futures Note (VXX) higher by 0.86 percent to $28.18.
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