A summertime rally in the U.S. stock indexes has hit a bit of turbulence in August—just ahead of the rockier timeframe for the stock market: September and October. See on the daily bar chart for the September e-mini S&P futures that the market is still in an uptrend and the bulls still have the firm near-term technical advantage. The rubber will meet the road for the stock indexes in the days after traders return from the Labor Day holiday weekend. Bulls will have to up their game at that time. Stay tuned! Jim Wyckoff