Opening action looks somewhat weak, but its certainly not to be trusted right now. We've seen plenty of moderate morning declines that flip positive later in the day. IWM's opening minor move higher quickly became a black candle - often a good warning, and within minutes it has indeed turned impressively red.
Sp'60min
IWM'60min
VIX'60min
Summary
A very long day ahead, and bears will clearly be desperate for a close at least 0.5% lower across the main indexes. Considering the GDP data, the Spanish downgrade, and end of week 'I don't want to risk holding across the weekend', you'd think we might actually close red today.
More throughout the day!