Intraday Update -Consolidative, Defensive Tone

2:48 p.m. ET The averages are fading upside momentum and recently traded at or near session lows.  That’s not to say there’s anything bearish about their price action today, it just is what it is and should be viewed as consolidative. Mega-caps have not been in favor, despite some headline-grabbing “AI” news from Apple. The…