CBOE Vol Index under pressure as equities put up minor gains.
The CBOE VIX (NYSEARCA:VXX) edged lower on Wednesday, as equities continued to show resilience.
Relative strength continues to hold below 50, while the MACD remains in negative territory.
The Chicago Board Options Exchange (CBOE) Volatility Index briefly traded below 10.00. The gauge settled down 2.3% to close at 9.85.
The S&P 500 Index (NYSEARCA:SPY) rose 0.1% on Wednesday.
Major VIX ETFs:
iPath S&P 500 VIX Short Term Futures ETN: (NYSEARCA:VXX) Designed to offer exposure to the S&P 500 VIX Short Term Futures Index Total Return. The Index uses CBOE Volatility Index futures by way of a long position in the first and second month VIX Futures contracts. VXX declined 2%.
VelocityShares Daily Inverse VIX Short Term Futures ETN: (NYSEARCA:XIV) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. XIV advanced 2%.
ProShares Ultra Short Term VIX Futures: (NYSEARCA:UVXY) UVXY is designed to deliver 2X (leveraged) returns of the day’s moves in the S&P 500 VIX Short Term Futures Index. It tacks the two front months of the futures contract. UVXY declined 4.1%.
VelocityShares Daily Short Term VIX Futures ETN (NYSEARCA:TVIX) TVIX is a leveraged VIX ETN designed to deliver 2X the returns of the daily S&P 500 Short Term Futures Index. TVIX declined 4.2%.
The Final Word: The near term outlook remains bullish for equities as investors turn their attention to earnings season. Wall Street could he poised for new highs should corporate results come in as expected.