Levels unchanged after flat session

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Equity indexes pulled back slightly yesterday but remain in a firmly bullish trend.

The S&P 500 edged lower by 0.15 percent to 1707.14, barely 2.50 points below its record high on Friday. Support remains at 1670.

The Nasdaq 100 declined fractionally and remains less than 1 point below its highest level since the tech bubble was collapsing in 2000. Support remains at 3030.

The Russelll 2000 was the only of the three major indexes to close higher, adding 0.3 percent to a new record high of 1063. It has support at 1020.

(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns, so we will not guess at them.)

The CBOE Volatility Index also fell back below 12 and is down near its post-2008 closing low of 11.30 reached in March.



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

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


This article appears in: Investing , Options

Referenced Stocks: SPX

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