VIX falls near its recent low and is nearing the 15 level which marks the Complacency entry mark..

 

Given the lows around 9 - 10 in 2007 where market was roaring in the 'Good times' it turns that market has remained most of the last 8 months in a state of relative balance and is going into an even more relaxed state.

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S&P 500 is holding nice gains after it corrected 9% in January.

 

The major index is trading in an Rising Wedge pattern and current target is around the key 1200 level which is in confluence with the 200-Week MA at 1227.

 

Both RSI and MACD are turning up supporting the move and the 50-Week MA is tracking nicely the Uptrend. This a great educational experience to have 1 straight year of roaring trend while we incessantly hear of a new crash, crisis, depression... Trade the trend!
 

USD index is playing the indecision game for 4-th week right on the 200-Week MA at 80.39.

 

The technical picture shows that DX is trading inside a clear Uptrend Channel. However in the present moment it is a range play capped by the long term important 81.40/50 level and downside is holding around the 79.50 (Trendline Support) and 79.17 (50-Week MA).

 

Since the last Weekly settlement was at 80.46 I'd suppose a test of the Support layers in the 79-80 region (which might translate into EUR/USD test of 1.3750-1.38 levels) before DX tests the upside.