U.S. Markets closed

Equities pare losses in late rebound

Chris McKhann (chris.mckhann@optionmonster.com)

Major equity indexes were down Friday but closed well off their session lows, leaving the CBOE Volatility Index and its futures barely changed.

The S&P 500 fell 6.70 points, or 0.43 percent, to 1553.28. It dipped below 1540 in the first hour of trading after the disappointing employment numbers and spent the rest of the day climbing out of that hole. Resistance remains at 1574, while first support is at 1538.

The Nasdaq 100 dropped 23.17 points, or 0.83 percent, to end the week at 2771.75. It followed the same pattern as the SPX, falling to 2744 in the first minutes of the session before paring those losses. Resistance is at 2828 and support at 2713.

The Russell 200 was down 2.39 points, or 0.26 percent, to 923.28. Earlier in the session it slipped was under 910, the lowest level in a month. Resistance remains at 954, while support is now at 894.

The VIX ended the day up just 0.03 points at 13.92. It opened at 15.65, the day's high, after a sharp pre-market downturn in the S&P 500 futures. The volatility index finished just above its low of the day.

The VIX futures were mixed, with the April futures up 0.05 points to 14.30 and the May contracts down 0.05 points to 15.50. This had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) up fractionally to 20.11.

More than 518,000 VIX options traded on the day, led by 376,000 calls. The VVIX Index, which measures the implied volatility of those options, ended the day up 1.65 percent to 84.49.

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