The S&P 500 traded 0.84% higher today on better than expected jobless claims and the Philly Fed data.  The Nasdaq was little changed.  Oil traded flat, natural gas lost almost 4%, copper lost 0.5%, the 10 year treasury lost almost 1.5%, the dollar traded higher and the yen lost 1%.   Many market commentators were talking about low volume on the recent sell-off, but the volume on today’s rise was nothing short of horrendous.   Just over 1 billion shares traded at the NYSE today which is more than 35% below the 2 month average.  Breadth was strong, but there is a clear rotation out of beta and into safety.  Healthcare names and utilities led the charge today.  The market sold-off again in the last hour.  The feel of this market has certainly shifted from very bullish to mildly cautious over the last week.