Equity indexes continued to rebound, pushing the S&P 500 and Nasdaq 100 into positive territory for the year and driving the CBOE Volatility Index back down to 17.
The S&P 500 jumped 36.24 points, or 1.79 percent, to 2062.14. The SPX has climbed back above its 10- and 20-day moving averages and closed just above resistance. The next level of resistance is 2080, with support is 2000.
The Nasdaq 100 surged 80.55 points, or 1.94 percent, to 4240.55. Like the SPX it is above its 10- and 20-day moving averages but below last week's highs. Both indexes have now moved into positive territory for the year. The NDX has resistance at 4300 and support at 4100.
The Russell 2000 climbed 20.15 points, or 1.71 percent, to 1196.12. The small-cap index closed at its high of the day but below its 10-day moving average. Resistance is at 1200 and then 1220, with support at 1160.
The VIX fell 2.30 points, or 11.91 percent, to 17.01--the low of the day and its lowest close for 2015. The nine-day CBOE Short-Term Volatility Index (:VXST) dropped 2.55 points, or 14.5 percent, to 15.04.
The VIX futures followed lower, with January contracts finishing at 17.65 and February futures just above 17.75. With those declines, the iPath S&P 500 VIX Short-Term Futures Note (VXX) fell 6.42 percent to $30.77.
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