Major indexes fall, but so does VIX
Chris McKhann | email@example.com
The S&P 500 fell 17.02 points, or 1.22 percent, to 1377.51--its lowest close since Aug. 2. The SPX had climbed above 1400 at the open but declined for the rest of the day. Resistance remains at 1433, while support is at 1365.
The Nasdaq 100 followed the same path, initially climbing above 2625 but ending the day at 2572.57, down 40.12 points, or 1.54 percent. It will likely face a first level of resistance at 2651, while support remains at 2550.
The Russell 2000 gave up almost 11 points to close at 793.65, down 1.35 percent on the day. It has resistance at 825 and support at 775.
The VIX was also lower on the day, departing from its usually inverse relationship with the S&P 500. The volatility index finished at 18.49, down 0.59 points, or 3.1 percent. It never broke into positive territory and even dipped below 18 briefly.
The index is back in line with the November futures, which lost 0.35 points to close at 18.50. The December futures were down 0.20 points to 19.30.
More than 1 million SPX options traded on the day, with 635,000 puts. The VIX options traded 316,000 contracts, led by 225,000 calls. Despite that heavy action, the VVIX Index, which measures the implied volatility of the VIX options, was down 1.44 percent to 93.39.