US equities open moderately lower, but early price action looks relatively bullish - especially indicated via the indirect signal of the VIX. A weekly close in the sp'1925/35 zone looks viable, which will make the 1960/80 zone easily within range by next Wed/Thursday.... when the Yellen will appear.
The economic bulls should certainly not be inspired by the latest jobs data. It certainly isn't great, but then... neither can the recessionary bears get overly excited yet. Maybe we'll see a sub 100k number in March/April.
As for equities... indexes will probably close positive today, although net weekly declines still look due.. as last Friday's close of sp'1939 looks out of range today.
More than anything, the early action in the VIX is highly suggestive that equity bulls will be able to push back upward later today... and across much of next week.
*I've eyes on TVIX, currently +2.3% in the $9.50s, but looks highly vulnerable to 7.75/7.25 next week.
notable weakness... LNKD, GPRO, but I might cover those later...
time for some sun... or rather grey clouds.