Market still in bullish mode
The real trading season begins after Labor day weekend or next Monday and lasts till April 2015. Fall is the best time for stock market as seen year after year.
Market is still in a bullish mode. The consolidation in SPX is allowing for a rest and the trend is still unbroken, however there is some sideways action at the moment. The uptrend is still intact. RUT however, is not behaving the same, and has lagged behind a lot, in the last few months. Its in a range bound channel between 1200 to 1100 which is keeping it sideways. This may continue for a while, unless broken in either direction.
Major stocks are doing great. GOOGL has reached 600 levels and my launch higher if it does not rests here. PCLN however has plunged below its 200 line and is now trying to come back. If it closes above 200 day line bullish trades can be executed, till than its an avoid for me. FSLR is also picking up steam and looks bullish enough on the weekly charts. CMG is still in the consolidation mode, and a red dotted squeeze has been forming on it.
Keeping some powder dry, looking to trade well in the coming season this fall.