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Milestones for S&P 500, Russell 2000

Chris McKhann (chris.mckhann@optionmonster.com)

Equity indexes were higher at the end of last week, with the Russell 2000 finishing at new all-time highs and the S&P at its best level in more than five years.

The SPX gained 8.14 points, or 0.54 percent, to 1502.96 on Friday. It finished just off the high of the day, which came about an hour before the bell. That is the first close above 1500 since October 2007. Support is still 1460.

The Nasdaq 100 was up 13.20 points, or 0.48 percent, end the week at 2736.73. It did not fare as well as the other two indexes, finishing below Wednesday's close. Resistance remains at 2770 and support at 2704.

The Russell 2000 rose 5.04 points, or 0.56 percent, to finish at a session high of 905.23. That was the small-cap index's new lifetime high, as it surged in the final minutes before the bell. It has support at 872.

Despite the gains, the CBOE Volatility Index was up 0.43 points to 12.89. This is especially surprising because it was a Friday, when the VIX usually shows relative weakness because it reflects the weekend time decay of the SPX options on which the volatility index is based.

The February futures were up 0.15 points to 14.10. The March futures were flat at 15.10. The iPath S&P 500 VIX Short-Term Futures ETN (:VXX) was up 0.7 percent to 22.95--the first time in 2013 that it did not post a new low.

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