VIX pops with stock indexes mixed
Chris McKhann | email@example.com
The S&P 500 lost 6.45 points to close at 1685.94. It opened by climbing to 1698.38, just shy of Tuesday's record intraday high. The SPX fell from there but did finish a couple of points off the day's lows. Tuesday's high may prove to be resistance, while support is now at 1652.
The Nasdaq 100 was up 9.76 points to close at 3041.16. The index opened the day above 3060 before falling, but it did finish above the session lows. Its intraday high of 3091 from last week will likely be resistance, while support is at 3000.
The Russell 2000 declined 8.37 points to 1043.83. It jumped above 1055 at the open, then slipped below 1043 in the afternoon. Resistance is at its all-time high around 1057, while support is at 1000.
The VIX was up 0.52 points, or 4.11 percent to 13.18. The volatility index reached a high of 13.49 but fell right at the bell. It is up 9 percent from Tuesday's low, while the SPX is down less than 1 percent.
The VIX is also higher than actual volatility, as the S&P 500's 20-day historical volatility at 7.7 percent. The two indexes usually move inversely.
The VIX futures posted much smaller gains. The August futures rose 0.15 points to close at 14.80, and the September futures were up 0.05 points to 16.20. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 1.3 percent to $15.96.