All major indices are in the green today except for the Dow Jones. The S&P 500 is taking a pause following yesterday's big gains.

The Russell 2000 is leading the pack today up 0.88%.

The market continues to be in fear mode.

Only four sectors are in the green today, with Communication Services (XLC) taking the lead, up 0.95%. The largest decliner by far was Real Estate (XLRE), an interest rate sensitive sector, is the worst performer dropping 0.61%.

Initial Jobless claims rose 2,000 from the prior week to 230,000 and in-line with estimates. Notably, the trend is holding steady.

Market breadth is bullish showing advancers leading decliners by a better than 2:1 margin at the NYSE.