Market Update

3:11 p.m. ET SP-500 -0.85%, Dow -0.6% (Transports -0.8%), NASDAQ-100 -1.1%, Small Caps -0.45% Losses aren’t huge, but as I said in the Early Update, I don’t envision the S&P falling to its neck line in 1 or 2 days like Dow Transports did yesterday. Still, the intraday price action is not constructive, although there…