US equities are having to cope with what is a rather serious incident in the Ukraine. Yet so far, the indexes are comfortably holding above last Thursday's low of sp'1952 (along with VIX 13.20s). Gold is holding sig' gains of $19.
So..we're still lower, but there just isn't much down side pressure out there.
Unless last Thursdays low fails.... bears can't get confident of any sig' downside.
Update from Riley
I'm with Riley on this, and I'd guess this nonsense will recover, and break new highs next week.