Market Update – Consolidation

1:24 p.m. ET SP-500 -1.25%, Dow -1.1% (Dow Transports -2.25%), NASDAQ-100 -1.5%, Small Caps -1.75% Since the averages found session lows late this morning (except Small Caps), they’ve been trading in a typical consolidation which has a bearish bias thus far. Dow (1m) opened under the trend line it held all of last week. The…