Market News

December 11, 2013  Wed 2:45 AM CT

Equity indexes gave up a bit of ground yesterday, while the CBOE Volatility Index rose.

The S&P 500 was down 5.75 points to close at 1802.62, just off the session's lows. It has resistance at 1813 and support at 1775.

The Nasdaq 100 fell shy of 2 points to 3514.20, in the middle of a tight range in place all day. It has support at 3450. (When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore therefore will refrain from listing any.)

The Russell 2000 dropped 10.15 points to 1119.59 as it continues to lag the other indexes and is back below its 20-day moving average. It has resistance at 1147 and support at 1100.

The VIX was up 0.42 points, or 3.11 percent, to 13.91. The volatility index recouped losses from Monday's late gap lower but then saw another big drop into yesterday's close.

The VIX futures were higher, with the December contracts finishing at 14.05 and the January futures at 14.85. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 0.54 percent to $45 even.
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