With only 3,400 trading so far (at least that's the visible trading) and the PPS holding stead I'm seeing that as a moderately bullish indication. Lack of supply? Lack of demand? A bit of both? Are there sellers unable to find buyers, or buyers unable to find sellers? Its all guess work but we'll see how the rest of the day plays out.

I am somewhat surprised by the lack of volume...I thought we'd see at least some flight to safety at the bell.