VIX down as equities erase losses
Chris McKhann | firstname.lastname@example.org
Equity indexes ended last week with a strong rebound from Thursday's selloff, driving the CBOE Volatility Index back below 13.
The S&P 500 was up 23.46 points to finish at 1770.61. That was its second-highest close and made up for Thursday's losses. It has support at 1720. (When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore will refrain from listing any.)
The Nasdaq 100 was up 45.53 points to 3366.84. Resistance is at 3408 and support at 3300.
The Russell 2000 gained 20.89 points to close 0.03 points shy of 1100. That too was enough to regain Thursday's losses, though was not the high of the week. The small-cap index has resistance at 1123 and support at 1043.
The VIX was down 1.01 points, or 7.26 percent, to 12.90. That was just a fraction above its session low, as the volatility index lost ground all day.
The VIX futures fell slightly. Both the November and December futures were down 0.10 points, to 13.60 and 14.85 respectively. The iPath S&P 500 VIX Short-Term Futures Note (VXX) was down 2.18 percent to 48.62, a new all-time closing low.
VIX at 12 as SPX, NDX hit highs
November 28, 2014
Major equity indexes finished Wednesday's session at new highs, driving the CBOE Volatility Index to the 12 level.
VIX at lowest close in two months
November 26, 2014
The major equity indexes were mixed but little-changed yesterday, while the CBOE Volatility Index fell to its lowest level in two months.
Videocast: Caution in the VIX pits?
November 25, 2014
Group One's Jamie Tyrrell dissects large VIX call buying that has continued all week, saying that today's price action indicates that traders may be getting more cautious on the market.
VIX lower as stocks keep rallying
November 25, 2014
The major equity indexes added to their gains yesterday, sending the S&P 500 and Nasdaq 100 to more new highs while pushing the CBOE Volatility Index lower.
Videocast: VIX call buyer returns
November 24, 2014
Group One's Jamie Tyrrell says a large trader continues to purchase VIX December 19 and 23 calls, though others are buying put spreads.