Santoli’s Friday market notes: S&P 500’s win streak is over, but that’s not necessarily a bad thing

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A trader works on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 20, 2021.

Andrew Kelly | Reuters

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

  • The bulls come into a new quarter with plenty to prove. The market from some angles looks to have broken down and lost the thread on the uptrend – technical levels breached, dip-buyers slow to show up, enviable streaks marking the rally’s persistence now broken. Yet this is also what a prolonged shakeout/consolidation looks like in the moment.