Equity indexes rose for the third-consecutive session yesterday, pushing the CBOE Volatility Index lower.
The S&P 500 gained 4.21 points, or 0.22 percent, to 1941.99. The SPX remains right at its 10-day moving average. Resistance is at 1955 and support at 1920.
The Nasdaq 100 added 1.39 points, or 0.04 percent, to finish at 3781.32. The index's 20-day historical volatility is down to 8 percent, a new 52-week low. It has resistance 3804 and support at 3740.
The Russell 2000 climbed 9.80 points, or 0.84 percent, to 1176.62. That is its highest close since April 3. The small-cap index has resistance at 1190 and support at 1140.
The VIX was down 0.59 points, or 4.66 percent, to 12.06. But the nine-day CBOE Short-Term Volatility Index (:VXST) was up 0.14 points, or 1.12 percent, to 12.68. It is very rare to have the VXST above the spot volatility index, especially in a rising equity market.
The June VIX futures finished trading at 12.35 and they settle tomorrow at the open. The July futures closed at 13.45. With that the iPath S&P 500 VIX Short-Term Futures Note (VXX) was down 3.46 percent to $30.67.
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