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Equity indexes snap winning streak

Chris McKhann (chris.mckhann@optionmonster.com)

Equity indexes broke their winning streak yesterday, while the CBOE Volatility Index closed higher but at its low of the day.

The S&P 500 was down 8.29 points to close at 1746.38, in the middle of its intraday range. The SPX gave up most of the gains from Tuesday. It has support at 1700.

The Nasdaq 100 gave up 20.88 points to finish at 3346.05, erasing its gains for the week. Is has support at 3250.

The Russell 2000 fell 4.71 points to 1110.93. The small-cap index has support at 1080.

(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 VIX was up just 0.09 points to 13.42. The volatility index reached a high as 14.21 in the morning but gave up ground all day to close at its intraday low.

The VIX futures followed suit but finished mixed. The November contracts were up 0.10 points to close at 14.70, while the December futures were flat at 15.55. That had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) up 0.58 percent to $13.07. 

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