Nothing has changed since the circulated email from Citibank.
"The March employment report will likely show a continued severe contraction in the labor market, with nonfarm payrolls expected to drop 675,000," wrote Barclays Capital Research analyst Julia Coronado.
For stock investors to have a favourable reaction, the monthly count needs to remain below the 681,000 tally of jobs lost in December, said Hogan. "We need to see the velocity of negative news decrease. And then we run into earnings season. Corporate America is about to let us know how they did."