SP 500 and NDX Futures Daily Charts - Stocks Pull Back on After Quarter Hangover

Stocks pulled back today a bit but the SP futures held 1550 which is big support now.

The putative reason was the weak ISM Index number today which signaled slowing manufacturing activity, but I think it was as much a bit of a 'hangover' from the tape painting that occurred at the end of quarter last week.

Non-Farm Payrolls coming up on Friday. Whisper number is 215,000.

I would tend to buy the dips or take short profits on pullbacks while the SP stays above 1550. My own preference is to dally along the short side with agility, especially by playing the VIX. Why? Because as steady as this rally has been, there is a significant event risk which makes me uneasy about the straight long side.

Volatility has come up a bit but is still low.

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

How Much Gold Is There in the World? - BBC

Links for Monday, 1 April - No Fooling

"The corporations that profit from permanent war need us to be afraid. Fear stops us from objecting to government spending on a bloated military. Fear means we will not ask unpleasant questions of those in power. Fear permits the government to operate in secret. Fear means we are willing to give up our rights and liberties for promises of security. The imposition of fear ensures that the corporations that wrecked the country cannot be challenged. Fear keeps us penned in like livestock."

Chris Hedges

Links For Today

Moody's Review May Dent Bank Ratings

Game of Thrones Third Series Set for UK Debut

US Manufacturing Slows

Caroline Kennedy to be Named Ambassador to Japan

Money Laundering Banks Still Get a Pass from the US - Simon Johnson

Asteri Capital and the London Whale

US Deploys Stealth Fighters to South Korea

BRICs Go Over the Wall - AsiaTimes

As Market Heats Up, Trading Slips Into the Shadows

As Banks In Cyprus Falter, Other Tax Havens Step In

At Banks, Board Pay Soars Amid Cutbacks (Quis custodiet ipsos custodes?)

More Stockman - Krugman

Big Business Believes in Subsidies, Not Free Markets - ataxingmatter

Canada Walks Out of UN Convention on Droughts

The Super Supercapacitor

The Treason of the Intellectuals - Hedges

Too Big To Jail - Mike Hudson