Markets Flat with Hidden Momentum.. 12.9.13

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,

The momentum at today's start looked like we were headed higher into the close but the final hour pulled most of the indices back to the neutral line. There are pockets of strength evident however, including tech and the financials, which, as we have mentioned before, is usallly the 1,2 lineup that drives the markets higher.  We are entering the seasonally strong time of the year as fund managers add positions of the years top gainers before year end to show that they too were holding winners.
Note that XLU (utilities) was the loser today on the VEGA bullish model.  This is a bullish sign.