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Santoli’s Monday market notes: The market is quiet ahead of big expectations for Tesla earnings

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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.

  • Stocks continue to sleepwalk uphill, with signs of indecision below the surface failing to restrain the market's upward bias. A cautious turn toward the defensive sectors in recent weeks – bonds, low-volatility stocks, healthcare – has for now been the market's way of protecting the lead built up by the offense (cyclicals, banks, small-caps) in the first 10 weeks of the year.

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