Mike Santoli's market notes: A cooling-off day, resilient tape, VIX deflating

The Fearless Girl statue is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 11, 2020.
Brendan McDermid | Reuters

(This story is for CNBC Pro subscribers only.)

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

  • A cooling-off day for a market that ran hot all week. Looks like a benign breather following a 7% week-to-date ramp featuring a mad grab for market exposure, a puke of hedges and desperate repositioning that followed Election Day.