Stocks close lower despite late rally


Equity indexes came off well their lows but still finished down yesterday, as did the CBOE Volatility Index.

The S&P 500 fell 9.04 points to close at 1631.38. It spent the first hour or so in positive territory, then traded as low as 1623.62. It climbed into the close, regaining much of its lost territory. It has support at 1623 and resistance at 1670.

The Nasdaq 100 lost 17.09 points to end the session at 2973.69. It followed the same pattern as the SDX, but the NDX's close was its lowest since May 9. It has support at 2950 and resistance at 3027.

The Russell 2000 gave up 8.56 points to finish at 981.97. It has support at 973 and resistance at 1000.

The VIX slipped 0.01 points to close at 16.27. The volatility index opened the day by breaking below 16, then climbed back above 17 before falling in the last couple of hours.

The VIX futures, however, kept their gains. The June contracts were up 0.10 points to 16.10, and the July futures rose 0.05 points to 17.05. This had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) up 1.2 percent to $19.34. 

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