Commercial paper quality spreads, courtesy of the Federal Reserve, (http://www.federalreserve.gov/releases/cp/) are becoming wider as fear increases. The money market yield curve is more negative; this is another indication of investors' concerns. Conservative investors may want to wait a little longer before adding any risk to their portfolios.

Aggressive investors, however, may want to take their que from some technical indicators. For example, all 30 of the DOW declined last Friday, March 29th. This is probably not part of Leap Year but a real indication of an over-done stock market.