Major equity indexes rose again yesterday, driving the CBOE Volatility Index lower.
The S&P 500 was up 6.02 points, closing just shy of 1416. It did dip midday on "fiscal cliff" comments by House Speaker John Boehner but quickly recovered. Support remains at 1380 and resistance at 1428.
The Nasdaq 100 was up 14.76 points to 2680. It has support and resistance at 2600 and 2700.
The small-cap Russell 2000 had the best percentage gain of 1.19 percent, or 9.7 points, to finish the session at 823.20. Unlike the other two indexes, the RUT closed just off its session high. Support remains at 800 and resistance at 830.
The volatility index was down 0.45 points, or 2.9 percent to 15.06--just off the low of the day. The VIX futures were also lower, with the December and January contracts both down 0.30 points to 15.20 and 17 respectively.
More than 730,000 VIX options changed hands, with calls just barely outpacing puts. The SPX options turned over 615,000 times, with a put/call ratio of 2 to 1. The VVIX Index, which measures the implied volatility of the VIX options, fell another 2.45 percent to a new all-time low of 78.42.
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