U.S. Markets closed

Stock indexes fall below key averages

Chris McKhann (chris.mckhann@optionmonster.com)

The equity indexes all opened higher and finished at their session lows on Friday, driving the CBOE Volatility Index and the VIX futures higher.

The S&P 500 lost 13.39 points, or 0.94 percent, to close at 1414.20. It started the session by climbing as high as 1434, at its 20-day moving average, but gave up most of its gains from Thursday and closed back below its 10-day moving average. Resistance is now at that 1434 level, while support remains at 1403.

The Nasdaq 100 fell 1.16 percent, or 31.24 points, to 2656.28. It reached a high of 2701 but, like the SPX, pushed back below its 10-day moving average and gave up most of Thursday's gains as well. Resistance will likely be 2701 with support at 2636 and then 2606.

The Russell 2000 jumped to 830 and then fell throughout the day to close at 814.44. It gave up all of Thursday's losses and most of Wednesday's as well. It too broke down its 20- and 10-day moving averages. The 830 high should be resistance with support at 807.

The VIX higher gained 0.80 points, or 5.4 percent, to finish the week at 17.59. It had dipped as low as 16.05 at the open.

The November VIX futures gained 0.90 points to close at 17.80. The December futures were up 0.65 to finish trading at 18.55.

More than 700,000 SPX options traded, led by 404,000 puts. The VIX options traded more than 559,000 contracts, 444,000 of which were calls. The VVIX Index, which measures the implied volatility of the VIX options, was up 7.52 percent to 87.84.

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