This week's Ponzo forecasts mirror last week's outlooks...weak for the SPY, neutral for VIX and slightly bullish for TLT. If we do get a March rate hike price dynamics may get volatile and push the markets out of a momentum paradigm. For now the markets are in a (weak) consolidation pattern as political issues are prompting a more uncertain Spring. Earnings are pretty well over and the general tone has been upbeat.... supporting the recent run up. However, I tend to be overly cautious and other than delta neutral positions I'm 90% in cash until a clearer picture emerges for the near term.