Equity indexes rebound from selloff
Chris McKhann | firstname.lastname@example.org
Equity indexes rebounded yesterday, making up most of the ground lost in Monday's selloff.
The S&P 500 was up 14.94 points to finish up the session at 1588.03. It was in positive territory all day and hit its session highs shortly before the close. Support is at 1560 and resistance a 1652.
The Nasdaq 100 gained 18.30 points to close at 2866.50. Support is at 2825 and resistance at 3000.
The Russell 2000 rose 1.07 percent to 961.26. It finished just off the day's high, which came right before the bell. Support is at 943 and resistance at 1000.
The CBOE Volatility Index fell 1.64 points, or 8.16 percent, to close at 18.47. It dipped to 17.82 shortly before the close and is now lower than the S&P 500's 10-day historical volatility of 20 percent.
The VIX futures followed lower, with the July contracts down 0.70 points to 19.45. The August futures fell 0.35 points to 19.95. That left the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 2.83 percent to $22.17.
Videocast: VIX 'cash spread' hedge
February 27, 2015
Group One's Mike Palmer explains the strategy behind a VIX "cash spread" as traders cover positions going into the weekend.
Videocast: Futures see higher VIX
February 26, 2015
Although the spot volatility index remains below 14, Group One's Dominic Savino says the March VIX futures are targeting the 16 level.
Videocast: Low short-term volatility
February 25, 2015
Although a big player is buying VIX March 23 calls, Group One's Mike Palmer says the iPath S&P 500 VIX Short-Term Futures Note (VXX) settled today near 11.
Videocast: VIX falls as Yellen talks
February 24, 2015
Group One's Mike Palmer says traders are betting on lower volatility amid speculation that the Federal Reserve will not hike interest rates before the end of the year.
Videocast: The VIX ahead of Yellen
February 23, 2015
Volatility has calmed down after a rocky open today, but Group One's Mike Palmer says the VIX could move early tomorrow with Senate testimony by Fed Chair Janet Yellen.