No, you’re not imagining that this has been the most boring summer on Wall Street in maybe a thousand years. Notice in the accompanying chart that the Mini-S&P is almost exactly where it was two months ago. Bulls have held a microscopic edge all summer long, but that hasn’t been enough to power the futures to a 1320.25 target that we first identified in late July. That pivot, and now another at 1342.50, lie in prospect, but at the current pace it could take until the November elections to reach the higher number.