Bulls in charge with VIX collapse under Q2P, DIA back above all pivots, and NYA & VTI both following through as well.

Previously I said ready to cut hedges if SPX above MayP and NDX above YR2 so those are out. But keeping 2 shorts below IWM Q2P and XLF MayP, for 80% net long.

Charts look bullish but I'm still skeptical. Given valuation, fundamentals and seasonality, a move to powerful new highs (for SPX, INDU and NYA) is still the less likely move.

Some global indexes seeming a bit tired so I will have to think about that - INDA down despite DXY down and EEM lagging.

SPY and VIX below.