Small Caps 'lead the charge'......

S&P600 Small Caps ($SML) Index: Close @ 02/02/12

Note the DMI/ADX trending indicator, unlike the other 'risk-seeking' index (NDX100), this has been in 'trending' mode (ADX>20 & +ve) for a while now.
Once that (ADX) breaks back below the DMI (Green Line), then perhaps this 7 week rally will take a breather.