Tis late...lets take a brief look at where we are at...
Yes, its been a shaky week for the bulls, but overall, we are surprisingly still positive on the sp'500 for this week and month Everything is set up for April for a move above 1440..which should guarantee a brief - and quick run to 1550.
VIX weekly cycle
VIX is still failing to close over the 10MA. If Friday is at least a moderately up day for the indexes, then VIX will again close another week poorly -although underlying momentum is still crawling back higher. Lower bol' is 10, so maybe that will be low in the coming weeks/months..
Prospects for Q2
Friday will be interesting to watch, a strong close for the markets would merely rub more dirt in the face of the remaining bears. Just how can they remain bearish whilst the monthly cycles are still cruising up in an almost straight line?
Earnings season will be here in just over a week, if the market decides those numbers are okay, then a move above sp'1440....seems highly probable. Such a move would smite another pack of bears, it could get real ugly...real soon.