Intraday Update – Tone Shifts Negative, S&P to Test $3800 Again

11:45 a.m. ET Tone shifted quickly from a more positive start, to ugly. From mega-caps providing modest leadership to the upside, to leading to the downside and we’re only two hours into the day. Remember the thin liquidity conditions make for more volatile price moves. SP-500 -0.6%, Dow -0.5% (Transports -1.1%), NASDAQ-100 -0.9%, Small Caps…