ZeroHedge writes, “Following yesterday's proof-positive that "everything is awesome," today (and overnight) we find, everything is not so awesome. Following the unleashing of The Warsh on CNBC, markets are starting to turmoil. Crude has erased all its late-day ramp and then some dropping back to a low $47 handle. German Bund yields just hit a new record low (2Y at -25.7bps!). US equity markets have erased all of yesterday's post-open gains, and US Treasury yields are dumping as the Euro surges...”

VIX futures appear to be challenging short-term resistance at 14.76. Once above the cluster of resistance levels between 14.76 and 15.05, the VIX will be on a buy signal (SPX sell). A confirmed SPX sell signal awaits above the 50-day Moving Average at 16.14.

Crude futures slipped to 47.77 at this time, gaining momentum to the downside. Crude in particular and commodities in general should see the deflationary pull grow stronger as we head into April.

Regards,

Tony

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