A strong message from the Federal Reserve about a continuation of the ultra-easy monetary policy is what the market is searching for to avoid another April pullback, said James Frischling, president and co-founder of NewOak.
For equity markets, the Fed's policies have been the single most important driver of stocks, Frischling explained.
"While a week jobs report is bad for Main Street, it may prove to be just what Wall Street needs to get through the second quarter," he said.
Over the past three years, April has been a turning point for markets, hitting peaks and then followed by between a 10% and 19% decline.
"With consumer confidence falling and volatility sitting at multi-year lows, complacency seems to be taking shape and there's a growing concern of a pullback," Frischling noted.