VIX falls below 14 as S&P rises again

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Equity indexes ended yesterday mixed, while the CBOE Volatility Index and its futures tumbled again.

The S&P 500 was up 5.14 points to close at its session high of 1689.13. It was negative for the first couple of hours before climbing out of its hole. It has resistance at 1700 and support at 1627.

The Nasdaq 100 was down 5.21 points to 3179.86. It dipped to 3160, weighed down by Apple, but also closed at its high of the day. The NDX has resistance at Tuesday's high of 3189 and support at 3060.

The Russell 2000 was off 0.38 points to 1055.34, the middle of its range for the day. The small-cap index has resistance at its high of 1063 and support at 1010.

The VIX fell 0.71 points, or 4.89 percent, to close at the session low of 13.82. The 20-day actual  volatility of the S&P 500 is still above 11 percent, so the VIX's premium is quite low.

The VIX futures followed lower. Both the September and October futures were down 0.6 to 14.55 and 15.75 respectively. That had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) down 3.18 percent to $14.47. 

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