Econ-data at 10am mixed, new homes sales for March -7.1%...urghh
SP'60min
VIX'60min
Summary
Bears need to see VIX close higher again today, 21+ sure would be decisive, but it does not look viable either today.
Everyone is getting obsessed with what the FOMC will say in tomorrow afternoons report. There won't be any new QE tomorrow, nor in May. I suppose June is possible, but in market land, that is a long ways away. We'll surely sell off before then, at least down to the 10MA on the monthly - sp'1285, if not into the mid 1100s.
more later!