VIX back above 13 as equities falter
Chris McKhann | email@example.com
Major equity indexes slipped a bit yesterday while the CBOE Volatility Index climbed back above the 13 level.
The S&P 500 was down 8.77 points to 1685.39, just off the day's low and its lowest close of the month. It has resistance at 1709 and some support at 1672.
The Nasdaq 100 fell 11.62 points to 3129.45. Unlike the SPX, the NDX remains above its 10- and 20-day moving averages. It has resistance at 3149 and support at 3030.
The Russell 2000 gave up 4.19 points to finish at 1047.80. It has resistance at 1063 and support at 1020.
The VIX was up 0.73 points, or 5.93 percent, to close at its session high of 13.04. The volatility index is much higher than the actual volatility of the SPX, which shows a 20-day reading of 6.7 percent.
The VIX futures were also higher. Both the August and September futures were up 0.25 to 13.35 and 15.15 respectively. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 0.7 percent to $14.49.
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