VIX up as Russell 2000 leads selloff
Chris McKhann | firstname.lastname@example.org
Equity indexes pared early losses but still finished lower yesterday, while the CBOE Volatility Index and its futures rose.
The S&P 500 was down 11.70 points, or 0.7 percent, to close at 1648.36. It had dipped to 1640 in the morning before regaining some ground and finishing in the middle of the day's range. Resistance remains at 1687 and support at 1635.
The Nasdaq 100 lost 17.12 points, or 0.57 percent, to close just below 2994.82. It bounced at 2980 before grinding higher. Resistance is at 3053 and support at 2965.
The Russell 2000 fell 10.39 points, or 1.04 percent, to 986.96. That was the worse percentage loss of the three indexes, giving up most of Tuesday's gains in the RUT. Resistance is at 1008 and support at 977.
The VIX was up 0.35 points, or 2.42 percent, to 14.83. It had climbed to 15.65 when the SPX bottomed.
The VIX futures were mixed, with the June futures gaining 0.20 points to close at 15.40 and th July contracts up 0.05 points to 16.40. This had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 1.52 percent to $18.55.
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Videocast: Big April VIX call buying
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