11am update - increasingly interesting

After a rather vain attempt to break a new cycle high, US equities are under natural downward cyclical pressure. VIX remains most notable, having reversed from an opex low of 12.50, back into the 13s. A daily close in the 14s looks probable.


sp'60min

VIX'60min

Summary

Naturally, yours truly is particularly interested in the VIX. First soft target are the 16s.

The market could easily use the next FOMC and/or Q1 GDP (next Thurs), as the excuse for broad cooling into end month.

The March close was sp'2059, an April close under the recent key low of 2033 would be VERY useful to the bears. 

As things are.. even broad cooling will not likely result in a close under the monthly 10MA.. which is in the 2025/15 zone.
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notable weakness: Boeing (BA), -2.5%

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time to cook