Mike Santoli’s market notes: Apple is standoff stock, key market level to watch, sell-off over?

A man walks a dog in the shade away from the midday sun past the New York Stock Exchange (NYSE) building in Manhattan, during hot weather in New York City, New York, U.S., August 11, 2020.
Mike Segar | Reuters

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

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  • "Is that all there is?" Bulls asking this of the three-week correction, bears wondering if that was it for the reflex bounce yesterday off the down-10% level and the YTD breakeven line for the S&P 500
  • Mild chop today after the recent swings. Further bounce in the mega-cap growth complex, the stocks that led both up into the August extremes and down this month. Apple is quite the standoff stock, fighting it out around the unchanged level after yesterday's upside reversal.