Another record close for stock indexes

By David Russell,

Shutterstock photo

Stocks continued to melt higher on Friday, with the Nasdaq 100 as the only major equity index not in record territory.

The S&P 500 opened higher and remained positive all day, ending the session with a sprint above Wednesday's highs. It closed higher by 17 points, or 1.03 percent, to 1667.47. Support is likely at 1633 and 1597.

The Russell 2000 gained 10.94 points, or 1.11 percent, to 996.28. Support remains at 2898.

The Nasdaq 100 climbed 29.61 points, or 0.99 percent, to 3028.96--its highest close in more than 12 years. Resistance might be encountered at 3128 or 3370, former peaks from November 2000 as the tech bubble deflated. Support is at 2898.

The CBOE Volatility Index, which usually moves inversely to the S&P 500, was down 4.74 percent to 12.45. The iPath S&P 500 VIX Short-Term Futures Note (VXX), which is composed of the two nearest-month VIX futures, fell 2.59 percent to 18.03.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.

This article appears in: Investing Options
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