U.S. stock futures are down dramatically after the Commerce Department reported that only 120,000 jobs were added in March, well below the expected 200,000+, and the smallest increase in 5 months. Today is a trading holiday for Good Friday, so traders and investors will have to wait until Monday to react to this news. We also have earnings season for the first quarter kicking off on April 10th with Alcoa's report. Earnings look to be weaker than previous quarters, and I expect a negative reaction from stocks, unless we see consistent surprises to the upside throughout earnings season. I remain cautious and have substantial cash positions waiting for a pull-back. I like stocks in general and want to re-enter the market, but only at lower levels. I will look to phase back into stocks as the market corrects, working through the technical support levels to select the most appropriate time to buy.