VIX posts lowest close in a month
Equity indexes climbed to new highs on Tuesday's shortened trading session, sending the CBOE Volatility Index well below the 13 level to its lowest close in more than a month.
The S&P 500 was up 5.33 points to at 1833.32, the day's peak and a new all-time hgh. The SPX climbed steadily throughout the session and has support at 1810.
The Nasdaq 100 was up 3.40 points to 3572.80, a new 13-year closing high. It traded in a very tight range during the day and has support at 3500.
The Russell 2000 picked up 4.58 points to finish at 1161.80, also a new record closing high. The small-cap index has support at 1132.
(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore therefore will refrain from listing any.)
The VIX was down 0.56 points, or 4.29 percent, to 12.48--its lowest close since Nov. 22. That was also the volatility index's low of the day, as it collapsed at the end of the session. It has fallen 25 percent in the last week.
The VIX futures also pushed lower, with the January contracts falling 0.50 points to 13.40 and the February futures off 0.40 points to 14.60. That sent the iPath S&P 500 VIX Short-Term Futures Note (:VXX) down 2.04 percent to a new all time low of $42.16.
More From optionMONSTER