Intraday Update – Session Highs

1:25 p.m. ET SP-500 +2.15%, Dow +1.8% (Transports +2.9%), NASDAQ-100 +2.5%, Small Caps +3.1% The averages are at or near session highs and the most notable change in tone is a more balanced rally. Earlier cyclicals sectors held the top positions, now we have a few mega-cap heavy sectors outperforming the benchmark S&P-500. The Communications…