Intraday Update – Tone is MUCH Improved, but S&P $3900 is KEY

1:11 p.m. ET As expected early in the week, the Payrolls report has proven to be the most influential data point of the week. The Fed sensitive 2-year yield has seen a plunge from pre-Payrolls to intraday lows of over 25 basis points, which is huge. The 3 major averages that in my view are…