Indexes higher but surrender early gains
Chris McKhann | firstname.lastname@example.org
Equity Indexes pushed higher for a second day, but once again surrendered early gains. The VIX also ended the session higher.
The S&P 500 gained 3.21 points to finish at 1638.17. It had climbed above 1646 by mid-day, but then slid into the close. It again hit resistance at its 10 day moving average, which it's been below the last three weeks. It has resistance at 1670 and support at 1600.
The Nasdaq 100 was up 21 points to close at 3093.36. It did finish above its 10-day moving average, but below its 20 day. Resistance is at 3149 and support at 3030.
The Russell 2000 was again the top percentage gainer, picking up another 1 percent or 10.43 points to close at 1026.93. Its resistance is at 1055 and support at 1000.
The VIX was higher, picking up 0.32 or 1.94 percent to 16.81. This is especially interesting given that we are going into the three-day weekend. Normally the index would fall as SPX options price in time decay.
VIX futures were mixed. The Septembers and Octobers were unchanged at 17.35 and 17.95, respectively. Oddly, however, the VXX, which is priced off those futures, rose 2.3 percent to 16.86.
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