Mike Santoli’s market notes: S&P's trap door, strong credit markets, the election setup

Traders with masks work on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020.
Brendan McDermid | Reuters

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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.

  • Respectable bounce keeps the S&P 500 in the uptrend above the former range near the correction lows. The index is a few points above where the trap door opened up yesterday afternoon around 3460.