VIX divergences often lead SPX tops. Look for the VIX to break out of its range for confirmation that top is in. Price target is 1482-1497, provided that VIX bounces off of resistance.
Although bears did a lot of damage the past few days, we are sitting on the 50-day EMA which acted as support in the previous dip near the end of February. Don't fight the trend. Stay cautiously bullish until the trend line AND the 50D EMA are both taken out. Otherwise, this is just another bear trap.
