Mike Santoli's market notes: Assessing the comeback rally, election anxiety, market breadth good

A person walks in front of the New York Stock Exchange (NYSE) in lower Manhattan on September 21, 2020 in New York City.
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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.

  • Twitchy overnight S&P futures sell-off effectively provided yet another test of the 3300 area that has been the firewall between the index and the September lows.
  • Take entering the week was the correction did most of what it needed to do (reset sentiment/positioning) if indeed there was no bout of new economic stress emerging. Today's data (Chicago PMI, ADP jobs, pending homes), plus somewhat encouraging stimulus, ratify the idea that economic improvement still underway.