Mike Santoli's market notes: Bullish trends, 'everything's working' rally, economic optimism

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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.

  • A bit of this type of market action and it will be fair to call it a melt-up. Slow, persistent upward progress from an already elevated point. Much of this is the seasonal upward bias, part of it the quadrennial tension-release and rebuild of equity exposure following an election, and another bit is the uncommon perceived clarity about a spring-loaded catalyst for economic acceleration within months.

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