The rebound in equities took a breather on the last trading day of the quarter with the S&P 500 pulling back about 1.0% at the low of the session. The move is not unexpected after the violent updraft the market has seen over the past two weeks but there are some signs of danger in it as well. The candle signal is bearish and could signal a deeper pullback in stocks and it comes the day before the dreaded PCE price index. The PCE price index is the Fed's favored tool for measuring consumer inflation and it is expected to be a hot one. Core consumer prices are expected to accelerate to 5.5% YOY and come in above expectations. Even if the figures are cooler than expected, inflation is still running hot and aggressive rate actions are expected over the next two meetings.