VIX declines as stock indexes rebound

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Major equity indexes yesterday regained a bit of ground lost earlier this week, driving the CBOE Volatility Index lower.

The S&P 500 rose 6.57 points to 1697.48, just above Tuesday's close. The SPX also finished just above its 10-day moving average. Resistance is at Friday's high of 1709, while support is at 1670.

The Nasdaq 100 gained 11.43 points to 3130.12, its third-highest close, behind those of Friday and Monday. The NDX bounced squarely off its 10-day moving average during the session. It has some resistance at 3145 and support at 3030.

The Russell 2000 was up 5.14 points to 1049.47, below Tuesday's close. It has resistance at 1063 and support at 1020.

The VIX was down 0.25 points, or 1.93 percent, to 12.73. That was well off session lows of the volatility index, which bounced in midday trading.

The VIX futures were lower as well. The August contracts were down 0.30 points to 13.25, while the September futures lost 0.20 points to close at 14.85. That left the iPath S&P 500 VIX Short-Term Futures Note (:VXX), which comprises the two nearest-month VIX futures, down 1.56 percent to $14.41.

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