Early Update – Still Low Conviction Trade

11:05 a.m. ET Trade remains very dull. I’ll show you at least one reason why on the charts of the S&P and Small Caps below. NASDAQ-100 lags again today, but there’s no leadership elsewhere, just averages that are very little changed. SP-500 -0.25%, Dow +0.1% (Transports +0.6%), NASDAQ-100 -0.85%, Small Caps +0.15% I suspected that…