VIX back below 17 as stocks rebound
Chris McKhann | email@example.com
Equity indexes rebounded strongly yesterday, more than making up for Wednesday's losses as the market continues to see volatile swings.
The S&P 500 gained 23.84 points, or 1.48 percent, to close at 1636.36. It climbed steadily all day and closed just below the session high, which came right before the bell. The action brought the SPX back near Monday's open. It has support at 1600 and resistance at 1670.
The Nasdaq 100 rose 36.76 points, or 1.26 percent, to close at 2962.90. The index followed the same pattern as the SPX, and its gains more than made up for Wednesday's losses. It has support at 2910 and resistance at 3010.
The Russell 2000 had the best percentage gain of the three indexes, climbing 1.79 percent--more than 17 points--to finish at 989.69, near Monday's open. It has support at 968 and resistance at 1000.
The action pushed the CBOE Volatility Index down by 2.18 points, or 11.73 percent, to close at 16.41.
The June VIX futures, which have just three sessions left to trade, fell 1.50 points to 16.75. The July futures lost 0.85 points to close at 17.70. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 4.6 percent to close at 20.22.
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