Early Update – S&P and NASDAQ Hope Mega Cap Earnings Save Them, Small Caps Feeling Pressure From Banks

11:55 a.m. ET I think you’ll find the charts below interesting, especially if the rates/equity correlation has flipped as we saw hints of a little over a month ago, and as I’ve been expecting. SP-500 +0.5%, Dow +0.3% (Transports -0.25%), NASDAQ-100 +0.55%, Small Caps 0% The S&P and NASDAQ are tangled up in some messy…