Equity indexes gave up much of their early gains but were still higher by the end of yesterday's session. The CBOE Volatility Index continued to climb, closing above 20 for the first time since the market sold off in mid-October.
The S&P 500 was up 9.19 points, or 0.45 percent, to 2035.33. It was above 2055 shortly before noon, regaining almost all of the ground lost a day earlier, but then declined. The SPX has resistance at 2060 and support at 2025 then 2000.
The Nasdaq 100 gained 21.60 points, or 0.51 percent, to 4246.48. The NDX was as high as 4296.81, briefly back above its 10- and 20-day moving averages. It has resistance at 4300 and support at 4200.
The Russell 2000 rose 5.09 points, or 0.44 percent, to 1166.96. That leaves the small-cap index in the middle of the recent range. Resistance is at 1190 and support at 1140.
The VIX climbed 1.55 points, or 8.36 percent, to 20.08, just off its high for the day. The nine-day CBOE Short-Term Volatility Index (:VXST) added 0.37 point, or 1.7 percent, to its session high of 22.08. Both remain far above the S&P 500's actual volatility, which has a 20-day historical reading of 8.4 percent.
The spot VIX also remains at a premium to its futures. The December future, which have only a few days left to trade, finished yesterday at 19.10. January futures closed at 19.15. The iPath S&P 500 VIX Short-Term Futures Note (VXX) was up 5.96 percent to $32.14.
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