The major equity indexes continued to fall yesterday, pushing the CBOE Volatility Index well above the 15 level.
The S&P 500 dropped 20.05 points, or 1.08 percent, to close at 1845.04. It was a few points off the day's low which game about 90 minutes before the close. That low was right at the support, while the next level of support is 1820. Resistance is 1880.
The Nasdaq 100 fell 31.63 points, or 0.89 percent, to 3507.75. That was the middle of the day's range for the NDX, but the lowest close since February 6. It has support at 3450 and resistance at 3650.
The Russell 2000 declined 17.60 points, or 1.53 percent to 1135.78. The small-cap index has resistance at 1190 and support at 1120.
The VIX climbed 1.61 points, or 11.53 percent, to 15.57. The volatility index briefly broke above 16 as the S&P 500 hits its session lows. The nine-day CBOE Short-Term Volatility Index (:VXST) was up 2.90 points, or 22 percent, to 16.08.
The VIX futures followed suit. The April futures closed at 15.45, back below the spot volatility index, while the May contracts closed at 16 even. That left the iPath S&P 500 VIX Short-Term Futures Note (:VXX) up 2.29 percent to $42.80.
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