The momentum in technology and health care stocks continue to lead the large cap U.S. equity market higher.  Alternatively, the Russell 2000 small cap index is trading lower as today’s price action is hovering down towards its 50 day moving average (1258.11).

The divergence between the small cap and large cap indices is reflected in their respective volatility indexes.

The RVX – VIX spread chart highlights a widening spread as RVX +.49  higher and VIX -.35 from Friday’s close reflecting the markets anticipation of small caps lagging in this current rally.