Equity indexes saw whiplash trading after the release of the Federal Reserve's minutes yesterday, finally ending the session lower after giving up sharp gains.
The S&P 500 was down 9.55 points to 1642.80. It fell below 1640 briefly right after the announcement, and then jumped above 1656. It held that level briefly and then gave up ground for the last hour. It has resistance at 1700 and support at 1600.
The Nasdaq 100 was down 10.70 points to 3071.47, following the same pattern. It has resistance at 3149 and support at 3030.
The Russell 2000 was down 6.99 points to 1021.58. It has resistance at 1055 and support at 1000.
The CBOE Volatility Index was up 1.03 points, or 6.91 percent, to 15.94. It opened the day much higher and climbed to 16.56. It then fell to 14.68 before running back toward 16 at the close.
The VIX futures followed suit. The August futures settled in the morning at a surprisingly high 16.42. The September VIX futures were up 0.45 points to close at 16.1. This had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) up 1.84 percent to $15.49.
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