Stocks decline as VIX increases

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Equity indexes gave up ground on Friday while the VIX pushed back above 17.

The S&P 500 fell 5.2 points to 1632.97, rebounding from below 1628 immediately before the close. It has resistance at 1680 and support at 1600.

The Nasdaq 100 was off by almost 20 points to 3073.81. Resistance is at 3149 and support at 3030.

The Russell 2000 slipped 16 points or 1.56 percent to 1010.9, its lowest close since July 8. Its support is at 1000 and resistance is at 1055.

The VIX rose 0.2 or 1.2 percent to 17.01. It peaked at 17.81 mid-day after Secretary of State John Kerry rhetorically lashed Syria. It remains at a big premium to actual volatility, with the 20 day historical volatility of the SPX below 10 percent.

VIX futures were also higher. The September futures were up 0.15 to close at 17.5. The October futures gained 0.2 to 18.15. This had the VXX up 1 percent to 17.04.



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