The opening lows held on their first retest, prospectively marking a higher low. However, to maintain that outlook, internals are going to have to turn it around here, as they remain marginally negative. The Semis (SMH) are having a particularly difficult time. Tick is putting in some higher [corrected] lows just now, let’s see if the SPY price break above the VWAP can take hold. With VIX slowly moving higher, that may be an optimistic thought.
