Markets set up for downside volatility

• SPX has been up only since crossing previous ATHs.
  
• Q1 just closed and Q2 day 1 is closing below the closest weekly levels.
  
• Don't fade an upcoming price expansion (or 2) in this month.
  
• Immediate key downside support for SPX is the prev ATH, which is 9% under from here.
  

Invalidation -

• SPX daily close at ATHs.