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Equities close lower as VIX rises

Chris McKhann (chris.mckhann@optionmonster.com)

Equity indexes finished the day lower but held onto most of Wednesday's big gains, while the CBOE Volatility Index climbed into positive territory.

The S&P 500 finished the day at 1809.60, down just 1.05 points. It had dipped to 1801 in the morning but climbed for the rest of the day. It still has some resistance at 1813 and support at 1767.

The Nasdaq 100 lost 11 points to close at 3498.63. It followed the same pattern as the SPX, trading sideways for most of the afternoon. The NDX has resistance at its 13-year high of 3524 and support at 3422.

The Russell 2000 was the worst performer of the three, giving up 8.27 points to close at 1125.45. Unlike its peers, the small-cap index gave up about half of ground gained in the previous session. It has resistance at its high of 1147 and support at 1100.

The VIX gained 0.35 points, or 2.54 percent, to 14.15. The volatility index fell to 12.89 in the morning but climbed along with the SPX, finishing just off the session high.

The VIX futures followed suit. The January futures closed at 14.40 and the February contracts at 15.55. That had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) up 1.03 percent to $44.33.

The VVIX Index, which measures the implied volatility of the VIX options, hit a new all-time low of 62.03 before bouncing to 67.03, still lower on the day.

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