Rebound pushes VIX back below 14

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Equity indexes rebounded strongly yesterday but were unable to regain all of Monday's losses.

The S&P 500 was up 15.58 points to close at 1511.29. It climbed to 1514.96 an hour before the bell, its highest intraday price since 2007, but then pulled back below Thursday's close. Resistance is now around that 1515 level, while support is at 1472.

The Nasdaq 100 had the best percentage gain of the three major indexes, ending the day up 1.45 percent. That was a gain of 39.31 points to 2754.99, but it was still below Thursday's highs. Resistance remains at 2770 and support at 2660.

The Russell 2000 rose 0.99 percent, or 8.94 points, to 908.22 but also did not regain Thursday's highs. Resistance will likely be at 913, and support is at 880.

The CBOE Volatility Index was down 0.95 points, or 6.48 percent, to 13.72. It lost ground all day but bounced in the final hour. The VIX February futures lost 0.90 points to close at 14.40, while the March futures were down 0.30 points to 15.60.

The VIX options volume was relatively light at 335,000, led by 255,000 calls. The VVIX Index, which measures the implied volatility of the VIX options, was down 3.5 percent to 75.07, back near its lows.

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