US equities open moderately lower to sp'2086, but it should be clear, there is still a total lack of downside power. Price structure is a clear bear flag, and its notable that the market is still holding within it. VIX remains very subdued, with a very clear black-fail candle... which sure doesn't bode well for the bears.
All things considered, equity bears can again feel justifiably dismayed and outright pissed at this open.
Whilst Japan effectively imploded, and most EU markets are lower by a clear -1% or more.. the US market already has some indexes net higher.
Yes... a long day ahead... but for now, this is the sort of open that will see some justifiably turn off their screen and not return until next month.
notable weakness... INFN, daily
A disasterous open.... and hell, even if the main market remains strong... INFN looks set to go sub $10 this summer.
10.08am.. sp'500... positive... VIX... negative.
.. but hey... growth of 0.5% is good news.. yes?