Futures opened quietly positive overnight—$SPX +0.2%, Nasdaq +0.2%, Dow +0.1%—despite all the "Black Monday" chatter floating around.

Oil pulling back slightly (WTI -0.6%, Brent -0.5%), natural gas down over 2%.

The panic feels louder than the actual price action. Markets have a way of shrugging off fear when positioning gets too one-sided. Not saying we're out of the woods, but the doomsday narrative isn't playing out—at least not yet.

Watch how we trade at the open. Sentiment can shift fast, but right now it's more calm than chaos.