The analysis observes that while major averages like the S&P 500 and Nasdaq are at record highs, broader market gauges like the S&P 500 Equal Weight index have stalled. Defensive sectors such as consumer staples and utilities show quiet gains, often precursors to market corrections. Market breadth has waned since late July. There is anticipation for potential seasonal weakness during late August and early September, but sentiment remains subdued, and speculation has not increased substantially. The analyst writes to clients seeing a few signs that there could be a pause approaching in the market, cycles do turn down in late August into September. The key is for markets to not make new monthly lows and to respect the uptrends, so they remain. Resistance levels of 6650 on the S&P500 is expected to be hit and even 7000 could be possible by Q4.