Favorable jobs numbers coupled with dimmer economic prospects and mideast instability have so far resolved to a bullish mode 3 hours into today's shortened session.
The advance/decline line is moving up nicely after a dismal opening at .20 and early red numbers have now largely turned green. Low volume and a bullish push are typical characteristics of pre-holiday sessions but the real action will likely come Friday.
Financials are under some pressure based on forecasts that the recent bond selloff will produce bottom line problems with the next earnings reports. The markets are always looking forward about 3 or 4 months and this is an example of such bet hedging.
This is the real time veiw as of 3 hours in today and its easy to see how IWM (Russell 2000) is now in top slot. Nothing else comes close on the 5 and 10 day metrics. Of course, if we look back to the 30 and 90 day metrics we see the other side of the picture...significant drawdown relative to the other model components. Just another argument for paying close attention to the P6 and RSQ money management stops.