Intraday Update – A Look at the Market Near SPX 5,000

2:11 p.m. ET The S&P has come within 5 points of 5,000, which was only 0.85% higher from Friday’s close. I expect the level will be hit as price is only 0.15% higher. There’s an element of mechanical trade today, the charts for the major indices all follow a similar pattern, irrespective of market cap…