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Equity indexes red but off lows

Chris McKhann (chris.mckhann@optionmonster.com)

The major equity indexes fell again on Friday but were off their worst levels of the session, while the CBOE Volatility Index posted a slight gain.

The S&P 500 fell 5.52 points, or 0.29 percent, to 1925.15. That was the middle of the day's range, which saw a low of 1916.37. Resistance is now at 1970 and support at 1900.

The Nasdaq 100 slipped 12.83 points, or 0.33 percent, to 3879.67. The NDX has resistance at 3997 and support at 3840.

The Russell 2000 declined 5.21 points, or 0.46 percent, to 1114.86. It too was off the worst levels of the session, which came in the morning. The small-cap index has resistance at 1160 and support at 1080.

The VIX was up 0.08 points, or 0.47 percent, to 17.03. It was as high as 17.57 in the morning and usually shows relative weakness on Fridays, when the S&P 500 options price in the weekend time decay .

The nine-day CBOE Short-Term Volatility Index (:VXST) was down 0.58 points, or 2.96 percent, to 19.01. It traded up to 20.06 in the morning.

The VIX futures saw significant gains, with August contracts climbing 0.85 points to 16.05 and September futures adding 0.60 points to 16.10. That pushed the iPath S&P 500 VIX Short-Term Futures Note (VXX) up 4.66 percent to $33.01.


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