This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
Tentative, indecisive action so far. As the Cantor trading desk puts it: "market feels nervous in both directions" after the August ramp, the three-day dump and a decent bounce that nonetheless didn't even get the S&P back to where it ended last week.
Market today rewarding domestic recovery/reopening plays (travel, casino, chain retail/restaurants) most still deeply underwater looking back six months. Equal-weighted consumer discretionary is up, beating the S&P 500 by half a percent midday. Some ongoing bounces in the growth leaders that corrected the most (Tesla, Zoom) but not a broad dip-buy in the Nasdaq.