Afternoon Update

The S&P was up +0.6%, now +0.15%. Nasdaq-100 was up +1%, now +0.4%. The retracement of earlier gains doesn’t rule out another day of consolidation tomorrow. I’d think it makes it more likely. SPX (5m) – Unlike Friday’s intraday consolidation that had a bearish bias, today’s has a bullish bias. We’re certainly not going to…