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