We missed the Friday pop...that's the bottom line. It's hard to see those types of news events coming using either fundamental or technical analysis. Had the jobs report been less than stellar the results would probably have been just the opposite. As it was, many of those jobs may be seasonal hires with the next jobs report showing less momentum, Not trying to be pessimistic... just trying to separate reality from hype. Friday's rise was uber low volume, which actually argues against it being a short covering event although short interest in the majors is still balanced in favor of the bears,
Note that XLU (utilities) was the loser today on the VEGA bullish model. This is a bullish sign.