This may be part of the Q2 safe haven bid.

GLD above all pivots since 3/21
VIX above Q2P since 4/5; but 1HP tested and rejected 4/12-17
TLT above Q2P
AGG above YP and thus above all pivots; but faded back under YP 4/20

But I think currency is telling the story here. Euro is in the middle of its range for 2017. It is below its YP and 2HP, but above its Q2P and still above AprP. DXY is weaker by comparison, closer to lows of the year.

EUR D below - is this about to collapse? Red line is 3/2015 low fwiw.

According to betting odds, Le Pen is widely expected to advance to second round but not to win. An outright win, or market pricing in higher odds of winning, would likely result in:

risk off, safe havens bid
DXY up
EEMs trade slammed as initial move
GLD up

Probably EEMs would drop more than DXY would rally. GLD is doing very well but real buy was weeks ago. One could be less long but I don't think this is correct given the move in markets yesterday. Sometimes one has to deal with ugly gap. If you don't play every time there is a worry, there will never be a good entry. That said someone with more concern of preservation rather than gain could consider May EEM puts, especially if currently overweight on global indexes as portfolio currently is doing.