Mike Santoli's market notes: Mean reversion day, tech stocks hit Street targets, earnings ahead

Amazon CEO Jeff Bezos
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This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.

  • The prevailing trend was stretched, and everyone could see it. Tech over everything, growth over value, stay-at-home over going-out, big-over-small. And so today's mild rally led by the have-not areas of the market is probably best seen as a pretty mechanical mean-reversion move after more than a month when the cyclical/financial parts of the market have retrenched and the mega-cap growth darlings carried the indexes.