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S&P 500 VIX futures tumble

FXStreet (Mumbai) - The volatility futures in the US have declined sharply, tracking the recovery in the equity markets.

The S&P 500 VIX October futures are trading 13% lower at 19.38 levels, down from a high of 26.35 hit yesterday. Moreover, the VIX had hit Dec 2011 highs earlier this week as the equity markets across the globe tanked on concerns of a slowdown in the global economy. The slump in the Crude oil prices added to the threat of deflation in the advanced economies. However, both the equity markets and the Oil prices are staging a sharp recovery today.

VIX futures Technical levels

The VIX has an immediate support of 18.16 (Aug 8th high), below which the index can fall to 16.00 levels. Meanwhile, the index can re-test 22.00 levels if it manages to sustain above support level of 18.16

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