Sell in May and Go Away

VIX has been consolidating with a support level of 12. The patterns indicate that it started an uptrend that may end up breaking out the triangle around the month of May. SPX has reached its upper level channel, turning the position into a upper pivot point that could start a downtrend, either a correction or a bouncing around the 1850 level. The international events and the uptrend in GLD are good reasons for a sell off in the market.