VIX down as equities erase losses
Equity indexes ended last week with a strong rebound from Thursday's selloff, driving the CBOE Volatility Index back below 13.
The S&P 500 was up 23.46 points to finish at 1770.61. That was its second-highest close and made up for Thursday's losses. It has support at 1720. (When equity indexes are at highs, further resistance levels are obviously projections not based on previous trading patterns. We therefore will refrain from listing any.)
The Nasdaq 100 was up 45.53 points to 3366.84. Resistance is at 3408 and support at 3300.
The Russell 2000 gained 20.89 points to close 0.03 points shy of 1100. That too was enough to regain Thursday's losses, though was not the high of the week. The small-cap index has resistance at 1123 and support at 1043.
The VIX was down 1.01 points, or 7.26 percent, to 12.90. That was just a fraction above its session low, as the volatility index lost ground all day.
The VIX futures fell slightly. Both the November and December futures were down 0.10 points, to 13.60 and 14.85 respectively. The iPath S&P 500 VIX Short-Term Futures Note (:VXX) was down 2.18 percent to 48.62, a new all-time closing low.
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