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Markets

VIX declines as equities inch higher

Stocks gained slightly Friday, with the S&P 500 inching to new highs as the CBOE Volatility Index continuing to decline.

The SPX rose 0.71 point, or 0.03 percent, to a new closing high of 2031.92. The index dipped early but pushed to a new intraday high of 2034.26 in the late morning. It has support at 1980.

(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 fell 3.58 points, or 0.09 percent, to 4160.50. The NDX was in negative territory for most of the session. Resistance is at last week's high of 4180 and support at 4100.

The Russell 2000 added 1.46 points, or 0.12 percent, to 1173.32. The small-cap index remains below the 1180 level where it hit resistance in September. The RUT has support at 1140.

The VIX tried to climb early but then rolled over and closed down 0.56 point, or 4.1 percent, to 13.11. It was the volatility index's lowest close since Sept. 19. The nine-day CBOE Short-Term Volatility Index (VXST) slid 1.52 points, or 12.02 percent, 11.13.

The iPath S&P 500 VIX Short-Term Futures Note (VXX) declined 1.43 percent to $29.03.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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