VIX rises as stock indexes stumble
Chris McKhann | [email protected]
The S&P 500 fell 3.14 points to 1692.39. It started the day by climbing to an intraday high of 1698.78 but quickly gave up those gains. The SPX then traded in a relatively tight range until closing near the lows. Suport is at 1652.
The Nasdaq 100 was down 23.83 points at 3031.39. Its volatility has been picking up in the last few days. Resistance is at Thursday's intraday high of 3091, while support is at 3000.
The Russell 2000 slipped 1.21 points to 1052.20. It also climbed to a new intraday high right after the open, hitting 1056.86, but fell by late morning. It has support at 1000.
(When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns, so I will refrain from listing them.)
The VIX finished higher by 0.37 points, or 3.01 percent, to 12.66. The volatility index dropped to 12.07 at the open, barely above its lows from April 12, when the SPX was 100 points lower.
The VIX futures declined, with the August and September contracts both down 0.05 points to 14.65 and 16.15 respectively. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 0.51 percent to $15.75, a new record low.