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VIX slips again as stocks close mixed

Chris McKhann (chris.mckhann@optionmonster.com)

The major equity indexes were little-changed at the end yesterday's session, but the CBOE Volatility Index and its futures fell again.

The S&P 500 was up just 0.29 points at 1472.63. It opened lower, climbed near 1474 and closed just below that level. The SPX remains right up against resistance, while support is 1420.

The Nasdaq 100 was up 11.75 points to 2734.73. The NDX climbed above 2742 in the afternoon before slipping into the close, leaving it back near Monday's close. It has support and resistance at 2670 and 2785 respectively.

The Russell 2000 was down fractionally to close at 882.31. Yesterday's all-time intraday high of 884.84 could be resistance going forward. First support will likely be at 863.

The VIX was down 0.13 points, or 0.96 percent, to close at 13.42 after the January futures settled in the morning at 13.69. The now-front-month February futures fell 0.35 points, or 2.2 percent, to finish trading at 15.45, while the March contracts are were down 0.20 points to 17.05.

More than 854,000 VIX options traded on the day as calls outpaced puts by almost 3 to 1. Despite that, VVIX Index, which measures the implied volatility of the VIX options, was down again at 77.26 after giving up 0.75 percent on the day.

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