A positive start for the day was reversed in the afternoon session, followed a very weak close. Keeping track of the current trend puts us in a mildish bearish mode so how the end of the month plays out may be critical as we move into April.
QQQ and XLF were the weakest components of VEGA, exactly the opposite of what we have come to expect from bullish momentum.
The M3 daily bar chart (lowest chart) shows how XIV has behaved recently and it hasn't been bullish. The particularly weak close today leaves us with odds favoring more of the same tomorrow.