Mike Santoli's market notes: Key S&P levels, earnings first take, crowded stock shakeout

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New for subscribers: Mike Santoli's market notes: Key S&P levels, earnings first take, crowded stock shakeout Check out CNBCPro today.

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

Market feels some mild shudders as overheated growth names continue to cool off. Noted Monday the three-week ramp to the recent highs was steeper and faster than the run into the Sept. 2 peak, makes this choppiness look so far like a benign consolidation for now.

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