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Santoli’s Thursday market notes: The S&P 500’s road to 4700 seems less complicated after a recent shakeout

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New for subscribers: Santoli’s Thursday market notes: The S&P 500’s road to 4700 seems less complicated after a recent shakeout. Check out CNBCPro today.

Traders work on the floor of the New York Stock Exchange on October 25, 2021 in New York City.This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.

Quick reversal of Wednesday's jagged shakeout in the majority of stocks, sharp pullback in value sectors and oddly poor market breadth, which all seems to have been a response to short-term overbought conditions combined with whippy bond-market moves.

 

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