Equities took an expected breather last week, but ultimately leaving the S&P 500 (SPY) down just a tenth of percent. Perhaps more interesting was the U.S. Dollar (UUP) pullback, leaving Commodities (DBC) commensurately overbought. Small Caps (IWM), Real Estate (IYR), Materials (XLB) and the Transports (IYT) are also looking a bit over cooked. Looking ahead, the first week of February will feature a Friday Jobs report.