Volatility gauges fall with stocks mixed
Equities were mixed on Friday while the CBOE Volatility Index and its futures were lower.
The S&P 500 finished the day up 4.24 points to 1592.43. It rebounded after falling below 1578 in the morning, then climbed above 1598 shortly before the bell but slid into the close. Support is 1552 and resistance is 1652.
The Nasdaq 100 was down 12.39 points to 2877.94. It slipped as low as 2854, which is now support. Resistance is at 3000.
The Russell 2000 gained 3.16 points to 963.68. It bounced off support at 952. Resistance remains at 1000.
The VIX fell 1.59 points, or 7.43 percent, to 18.80. The volatility index spent the middle of the day above 20 and was briefly in positive territory. Part of the drop was caused by the regular Friday repricing of SPX options for the weekend time decay .
The VIX futures followed lower, with July contracts down 0.70 points to 18.95. The August futures slipped 0.10 points to close at 19.35. That had the iPath S&P 500 VIX Short-Term Futures Note (VXX) down 3.79 percent to $21.56.
For the week, the S&P 500 was down 2 percent. The VIX was up 10 percent, and the VXX was up 3.7 percent.
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