VIX declines as equities rally again
Chris McKhann | email@example.com
Major equity indexes rallied for a second straight session yesterday, while the CBOE Volatility Index fell back below 15.
The S&P 500 was up 13.31 points, or 0.81 percent, to close at 1653.08. It climbed throughout the morning and hit a session high just shy of 1656 in the early afternoon. Resistance is at 1670 and support at 1630.
The Nasdaq 100 climbed 32.78 points, more than 1 percent, to 3124.54. That is the NDX's highest close since Aug. 14, the day after it hit a 13-year high. Resistance remains at 3149 and support at 3030.
The Russell 2000 was up 9.32 points, or 0.92 percent, to 1025.58. The small-cap index is right back up to its 10-day moving average but still below the 20-day line. Resistance is at 1055 and support at 1000.
The VIX was down 0.73 points, or 4.39 percent, to 15.88. The volatility index hit a low of 15.77 right at noon, then climbed until giving up ground right after the bell.
The VIX futures lost much less. The September futures fell 0.15 points to close at 16.70. The October futures slipped 0.10 points to 17.55. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 0.43 percent to $16.34.
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