VIX falls as stocks rebound intraday

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Equities recovered from early losses yesterday and ended the session mixed, while the CBOE Volatility Index fell again.

The S&P 500 gained 4.69 points to close at 1694.16. It dipped below 1683 in the morning, then climbed above 1696 before pulling back slightly close. Resistance remains at 1709 and support at 1672.

The Nasdaq 100 followed a similar pattern, sliding in the morning and then finishing the session up 15.14 points to 3141.06. It saw a 13-year intraday high of 3149.24 and ended the day just off its 13-year closing high from two weeks ago. Resistance is at that intraday high and support at 3030.

The Russell 2000 was down 1.68 points to 1051.99. The small-cap index opened higher but was in negative territory for the rest of the day, though it did cut losses significantly. It has resistance at 1063 and support at 1020.

The VIX was down 0.50 points, or 3.9 percent, to close just off its session low at 12.31. It climbed to 13.37  in the morning and slipped from there.

The VIX futures were mixed, with the front month following the spot volatility index lower. The August futures gave up 0.25 points to finish at 13.10, while the September contracts fell 0.10 points to 14.90. That left the iPath S&P 500 VIX Short-Term Futures Note (:VXX) down 0.89 percent to $14.39.


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