Stock indexes fall for third session

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The major equity indexes ended last week with their third straight losing session, while the CBOE Volatility Index and its futures declined as well.

The S&P 500 was down 5.49 points, or 0.33 percent, to 1655.83. It was in a relatively tight range, dipping to 1652.61 before regaining some ground in the last 90 minutes. It has resistance at 1700 and support at 1600.

The Nasdaq 100 gave up just 2.32 points, or 0.08 percent, to close at 3073.91. It too stayed in a very tight range, though it closed just above its low of the day. It has resistance at 3140 and support at 3030.

The Russell 2000 slid 3.31 points, or 0.32 percent, to end at 1024.30. It has resistance at 1063, with support at 1020 and then 1000.

The VIX was down 0.36 points, or 2.44 percent, to 14.37. Part of the pullback was caused by the SPX options getting repriced for the weekend time decay , and part of it was because it was simply a day of lower actual volatility.

The VIX futures mostly followed lower. The August futures, which still have a couple of days left before settlement, finished at 14.45. The September futures finished the day at 15.55. That left the iPath S&P 500 VIX Short-Term Futures Note (:VXX) down 1.91 percent to $14.97.


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