Afternoon Update

Today has been a strong day at the cap-weighted index level due to gains in mega-caps (MGK +1.8%) and semiconductors (SOX +4.5%). SPX (15m) –  I don’t think anything is going to be definitive before tomorrow morning’s Payrolls report (8:30 a.m. ET). The Equal Weight S&P is nowhere near as impressive. SPX (blue) and Equal…