VIX higher as equities finish mixed
Major equity indexes were mixed but little-changed yesterday, while the CBOE Volatility Index posted a modest gain.
The S&P 500 slipped 0.73 points, or 0.04 percent, to close at 1960.23. Resistance remains at its intraday high of 1968, with support at 1930.
The Nasdaq 100 was up 5.04 points, or 0.13 percent, to 3849.48 after peaking at 3860.65 earlier in the session. Both are new 13-year highs. The NDX has support at 3790. (When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore will refrain from listing any.)
The Russell 2000 rose 3.46 points, or 0.29 percent, to 1192.96. That was just off its high of the day and the best close since March 21. The small-cap index has resistance at 1205 and support at 1160.
The VIX was up 0.31 points, or 2.75 percent, to 11.57. That was the middle of the volatility index's range in the session.
The nine-day CBOE Short-Term Volatility Index (:VXST) was up 0.52 points, or 4.88 percent, to 11.17. Most of the gains in the VIX and the VXST were resulted from the SPX options being repriced after the weekend time decay .
The VIX futures were lower. The July contracts closed at 12.45 and the August futures at 13.35. The iPath S&P 500 VIX Short-Term Futures Note (VXX) dipped to $28.25 and finished down 0.9 percent to $28.60, both new all-time lows.
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