Hope everyone had a nice easter and back to another interesting trading week.

All in all here is my view.

1. VIX looks like might have bottomed and I think VIX into 13-14 is at low levels again, so as previously mentioned we should see a rebound last week into the weekend which we got and this is what I still believe was just a rebound.

I expect another sharp drop lower in mkts to occur starting early this week. VIX should then see a breakout higher above 18+ from here.

2. SPX looks like rebound done and expect another sharp sell off down to MA200. As long SPX remains below 1875 area I think we should see another sell off due.

3. GOLD / SILVER looks ready for another blast higher from here and I expect a sharp sell off higher in precious metals into the summer 2014. This fits well if the correction will get going into summer 2014 , so money could easy flow into Gold and Silver then.

4. Nikkei looks extremely bearish to me and I still expect a massive sell off in Japan. With this then Yen should breakout higher and this would put a very hard pressure in the markets.

5. Seasonaliy also expect a MID APRIL TOP , which means we should top out here before a sharp sell off into summer 2014, so this is my expectations that markets could get into a weak season and begin to sell off.

Conclusion: All in all – I think SPX likely to sell off again from current levels and next “down leg” might be underway. With this money should flow into Gold/Silver which I expect to CONTINUE stay strong in 2014. I still believe that 1170-1180 was a BEAR MARKET low in Gold prices and a new rally higher is underway – BUY DIPS…..