Equity indexes slipped on Friday and closed negative on the week, pushing the CBOE Volatility Index back above the 17 level.
The S&P 500 lost 9.63 points on Friday to close at 1626.73. It surged at the beginning of the session, climbing above 1640, but then pulled back to 1624 before bouncing a bit at the close. Support is at 1610 and resistance at 1660.
The Nasdaq 100 fell 19.04 points to 2943.86. It went positive briefly after the open before dropping to 2940. Support is at 2910 and resistance at 3030.
The Russell 2000 gave up 8.31 points to finish at 981.38. Support is at 968 and resistance at 1000.
The volatility index was up 0.74 points, or 4.51 percent, to 17.15. That is relatively strong on a Friday, given the weekend time decay that is always priced into the SPX options. http://www.optionmonster.com/education/options_pricing.php
The VIX futures were also higher. The June futures, which have only two days left to trade, were up 0.70 points to 17.50. The July contracts gained 0.60 points to close at 18.30. This had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) up 2.82 percent to $20.79.
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