VIX ramps up as indexes skid lower
Equity indexes ended 2014 on a down note, driving the CBOE Volatility index back above 19.
The S&P 500 fell 21.45 points, or 1.03 percent, to end the year at 2058.9. It was positive for the first 90 minutes of trade, then rolled over and closed just above the low of the day. It has resistance at Monday's high of 2093 and support at 2050, then 2000.
The Nasdaq 100 fell 46 points, or 1.08 percent, to finish at 4236.28. It has resistance at 4300 and support at 4200.
The Russell 2000 slid 8.36 points, or 0.69 percent to 1204.69. It put in a new record intraday high in the morning of 1221.44 before giving up ground. That level is now resistance and support is at 1190.
The VIX jumped 3.28, or 20 percent, to 19.20. It peaked at 19.91 just before the bell. The nine-day CBOE short-term volatility index (:VXST) surged 5.09, or 36 percent, to 18.95. It topped out at 20.12 just before the closing bell.
The VIX futures followed higher, but are now at discounts. The January contracts rose 1.50 to close at 18. February gained 1.2 to close at 18.20. That sent the VXX up 7.91 percent to $31.51.
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