VIX below 19 as SPX, NDX rally
The major equity indexes ended yesterday mixed as the CBOE Volatility Index fell below the 19 level.
The S&P 500 was up 9.57 points, or 0.47 percent, to 2032.12. Its full intraday range was defined in the first two hours of the session as the SPX dumped to 2012 then climbed above 2038. It has resistance at 2060 and support at 1990.
The Nasdaq 100 rose 20.88 points, or 0.5 percent, to 4192.09. It climbed as high as 4210 at its 20-day moving average, where it found resistance. Support is at 4090.
The Russell 2000 lost 4 points, or 0.34 percent to 1166.25. That leaves the small-cap index in the middle of its recent range. Resistance is at 1180 and support at 1150.
The VIX fell 1.04 points, or 5.23 percent, to close at 18.85 after briefly reaching 21 in the morning. The nine-day CBOE Short-Term Volatility Index (:VXST) slipped 1.58 points, or 7.2 percent, to 20.36 as it continues to hold a premium over the spot volatility index.
The VIX futures followed lower after January contracts settled at 20.97 at the open. The February futures closed at 18.90, while the March contracts fell to 19.05. The iPath S&P 500 VIX Short-Term Futures Note (VXX) fell 4.76 percent to $33.45.
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