VIX surges as equity indexes stall
Chris McKhann | email@example.com
The S&P 500 ended the day down just 1.13 points to close at the session high of 1693.87. It dipped down to just above 1680 in the first hour and then regained ground for most of the rest of the day. Resistance is at 1730 and support at 1630.
The Nasdaq 100 finished just 0.21 points higher at 3253.25. It dipped below 3230 and then climbed to a new 13-year intraday high of 3256 before moving sideways for the last two hours. It has support at 3150.
The Russell 200 was down 4.88 points to 1082.55, the middle of the day's range. The small-cap index peaked at 1087.39 in the afternoon, just $0.39 from its all-time high. It has support at 1040.
(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 VIX was up 1.06 points, or 6.82 percent, to 16.60. It was not far from the day's high and made gains after the bell.
The VIX futures followed suit, as the October contracts rose 0.90 points to 16.35. The November futures were up 0.65 points to finish at 16.90. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 3.17 percent to close at $14.63.