VIX rises along with equity indexes
Equity indexes regained ground yesterday, and the CBOE Volatility Index rose as well.
The S&P 500 gained 10.46 points to climb back to 1660.06. It has been as high as 1674 in the first hour of trading. Resistance remains at last week's intraday high of 1687, and support is at 1635.
The Nasdaq 100 was up 20.92 points to 3011.94. It had climbed up to 3036, then fell to 3002 before bouncing back. Resistance is at 3053 and support at 2965.
The Russell 2000 was up 13.07 points to 997.35. It had broken back above 1005 in the morning, so both the close and the intraday high were just off those from a week ago. Resistance is at 1008 and support at 974.
The VIX was up 0.49 points, or 3.5 percent, to 14.48. It is not unusual to see a gain in the volatility index after a long weekend as the SPX options are repriced for the time decay . But the VIX actually opened lower and dipped to 13.56 in the morning before climbing to finish at its session high. The VIX and the SPX usually move inversely.
The June VIX futures gave up 0.30 points to close at 15.20, while the July futures lost 0.20 points to finish at 16.30. This had the iPath S&P 500 VIX Short-Term Futures Note (:VXX) down 2.46 percent to $18.27.
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