This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
The market is summoning memories of first-quarter melt-ups from the recent past. Clockwork upward grind following a whippy market year; the indexes spending a lot of time looking overbought and prone to pullbacks that are shallow and fleeting when they finally come; sector/style rotation refreshes the uptrend under the surface; an intuitive recovery story becomes consensus but loose financial conditions keep cautious contrarians frustrated.
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