The top pickers are circling the wagons as we roll into September, October, the election, the fiscal cliff, a Euro crisis and a Chinese slow down. Even though this is enough to push one to the sidelines, keep in mind that most of this is probably already priced into the market. In fact, pretty everything we hear or read is already known and priced in to the market. The technical picture continues to favor the bulls, but the correction over the last two weeks has taken its toll. The Nasdaq AD Line stinks, the Nasdaq AD Volume Line formed a bearish divergence and Net New Highs are waning. Despite these negatives, we have yet to see enough selling pressure to change these indicators from bullish to bearish. This indicator summary is not designed to pick tops and bottoms. Instead, it is designed to assess the current state of the stocks market. Despite clear pockets of weakness, the bulk of the evidence still favors the bulls.