VIX above 12 as equities rebound


Equity indexes finished yesterday lower but regained much of the ground lost early in the session. The CBOE Volatility Index rose back above the 12 level but was well off its high of the day.

The S&P 500 slipped 3.38 points, or 0.17 percent, to 1996.74. It dipped below 1991 in the early minutes of the session but then recovered much of that ground through the morning. The benchmark index has resistance is at its all-time intraday high of 2005 and support at 1980.

The Nasdaq 100 fell 6.90 points, also 0.17 percent, to 4066.27. The NDX fell below 4055 before rebounding on another low-volatility day, with its 10-day historical reading down to 4.6 percent. Resistance is at 4079 and support at 4000.

The Russell 2000 fell 6.76 points, or 0.58 percent, to 1165.95. The small-cap index has resistance at 1180 and support at 1140.  

The VIX was up 0.27 point to close at 12.05, a gain of 2.29 percent. That was still the volatility index's session low, well off its morning high of 12.73.

The nine-day CBOE Short-Term Volatility Index (:VXST) was up 0.45 point, or 4.55 percent, to 10.34. That remains well below the 10-day historical volatility of the SPX, which stands at 5.2 percent.

The VIX futures are also well above the spot volatility index, with September contracts closing at 13.60 and October futures at 14.45. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 1.58 percent to $28.27. 

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