NDX leads market gains; VIX rises too

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The equity indexes were higher along with the CBOE Volatility Index and the VIX futures yesterday.

The S&P 500 was up 4.66 points to close just below 1414. That was the high of the day for the index, which got as low as 1406 in the morning. Support is at 1390 and resistance at 1420.

The Nasdaq 100 again had the biggest move--this time to the upside, as opposed to Wednesday's drop--gaining 18.41 points, or 0.7 percent, to finish at 2656.30. The NDX had dipped to 2624 in the morning. Support and resistance are still at 2600 and 2700.

The Russell 2000 finished higher by 1.19 points to 821.79. Support and resistance are at 810 and 830.  

The VIX finished the session up 0.12 points to 16.58, in the middle of a relatively tight session range. The spot index reading remains above the December VIX futures, which gained 0.30 points to 16.40. The January futures were up 0.25 points to 17.60.

More than 578,000 SPX options changed hands yesterday, with a put/call of almost 2 to 1. The VIX options turned over 264,000 times, led by 156,000 calls. The VVIX Index, which measures the implied volatility of the VIX options, was up 1.4 percent on the day to 84.15, still not far off last week's lows.

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