Redpoint Ventures hires former Twitter executive Sarver in investment hunt
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Equity indexes rebounded sharply yesterday, sending the S&P 500 to new all-time highs once again. The SPX gained 14.89 points, or 0.94 percent, to finish the session at 1597.59. That was just 0.02 points above Tuesdays close but enough for another new closing high. The benchmark index also reached a new intraday high of 1598.60 about 90 minutes before the bell. There is some resistance at 1600, but we could see a quick break of that tomorrow. Support is 1575 and then 1540. The Nasdaq 100 also climbed above Tuesdays levels, gaining 37.78 points, or 1.32 percent, to close at 2911.14. That was a couple of points off the days peak but well clear of the previous highs of the week, which had been resistance. It has support at 2829 and 2740. The Russell 2000 gained 15.61 points to 939.85. That was a gain of 1.69 percent but did not make up for Wednesdays losses. Like the other two indexes, it climbed in the morning and then leveled off in the afternoon. Resistance remains at 954, its all-time high from March, while support is at 900. The CBOE Volatility Index was down 0.90 points, or 6.2 percent, to 13.59. The VIX remains above Tuesdays close and the intraday lows from the previous five sessions. It is also well above the 52-week low around 11 and its all-time low below 10. The May VIX futures lost 0.60 points to close at 14.50, and the June futures slipped 0.50 points to 15.45. That left the iPath S&P 500 VIX Short-Term Futures Note (:VXX) down 3.34 percent to 19.11. The VIX options turned over 457,000 contracts, putting it eighth on yesterdays overall volume list. Calls made up 336,000 of those contracts. The VVIX Index, which measures the implied volatility of the VIX options, lost 4.9 percent to 83.82. More From optionMONSTER Call trade sees new highs for Hess Videocast: Rally sends VIX below 13 Why big trader is selling calls in MBIA View comments
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