Events

It is probably no surprise, but North Korea has begun fueling their "satellite" rocket.

More of a surprise, according to Israeli National News 

IDF to Remain on Full Alert Over Passover

The IDF on Tuesday broke with Israeli tradition and ordered all units to cancel the long-customary Passover leaves and remain on full alert over the holiday.

Over the years, an army-wide break during Passover became a tradition followed by all major military units, including the Air Force, Navy and intelligence corps.

This as Stratfor's weekly updated Naval map shows the Enterprise aircraft carrier close to crossing the Suez Canal, putting for the first time, 3 US aircraft carriers in the 5th AOR when there has never been more then two.

Initial Claims Missed this week

Prior Consensus Consensus Range Actual New Claims - Level 348 K 350 K 341 K to 352 K 359 K 4-week Moving Average - Level 355.00 K 365.00 K New Claims - Change -5 K -5 K

Coming in at 359k on consensus of 350k with last week's prior revised higher from a beat of 348k on expectations of 350k to a revised 364k. When is the last time there was a favorable revision?

The Final Q4 GDP revision was unchanged at 3%

Prior Consensus Consensus Range Actual Real GDP - Q/Q change - SAAR 3.0 % 3.0 % 2.8 % to 3.9 % 3.0 % GDP price index - Q/Q change - SAAR 0.9 % 0.9 % 0.9 % to 1.0 % 0.9 %

This is what ES looked like overnight, once again and as usual, ramping up on the EU open and then fading.

Currently at $1392.75, ES did not hold up overnight, look at the selloff from the post EU open following a miss in March European Economic and Consumer confidence, printing at 94.4 and -19.1, on expectations of 94.5 and -19.0.

Italy also had a weak 5 and 10 year debt auction, notably falling outside of the 3 year LTRO loan window.

Lets see what the volatile and noisy opening trade looks like.