US equities open moderately lower, with the sp'500 set to see increasing weakness across today.. and possibly.. for the rest of the week. What will be mission critical to the equity bears in this new hourly down wave.. to break the Friday low of 2039... and that will not be easy.
Most notable... the VIX, still utterly stuck in the low teens. For the moment, the market has ZERO concern about anything. Even if sp'2039 is broken under, VIX 16s, if 2000/1990 - VIX 19/21 zone.. 'briefly', before yet another bounce.
Clear break of trend. Price structure.. double top.. arguably a H/S formation... if so, downside target is (122, 86... -36...: $50, and yes, I fully recognise $50 is utter crazy talk right now.
Lousy outlook... as 'old retail' continues to decline in the western world. Next key support is the 22/20 zone, back to the lows from late 2011.