(These are the market notes on today's action by Mike Santoli, CNBC's Senior Markets Commentator. See today's video update from Mike above.) The market continues to bait and trap aggressive bears, with the two-day purge of speculative and high-momentum stocks either pausing or finished, allowing upbeat earnings and a tireless dip-buying bid to carry the S & P 500 back to the very top of its two-week range and a hair below a record high. Traders went right back to the high-beta stocks that drove the overshoot into the recent record highs, the SPHB ETF up twice as much as the S & P 500 both Thursday and week-to-date. Viewed at a distance, the tape has been undergoing some moderate high-altitude turbulence, a sometimes-sloppy rotation. It amounts to seasonal consolidation as overbought condit

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