With August in the books, investors can look forward to the end of what has been a lackluster summer.

The S&P 500 is virtually unchanged over the last four months.

No surprise here though, as this is typically the slowest time of year for the markets.

A quick recap of market action for the week ending 9-3-2010.

Bulls were the clear winner, as the S&P 500 rose 3.75% on average volume.

A positive reaction to the jobs report on Friday sent prices higher for the fourth consecutive session.

For now, it appears as if the bulls have successfully defended Dow 10,000.

Equities staged a sharp reversal during Friday's session after bouncing higher off of key intermediate-term support.

Is it time to break out the Dow 10,000 hats again?

First, we saw the Hindenburg Omen.

Then, during Tuesday's session, the DJIA momentarily dipped below the magic number, hitting an intraday low of 9991.

Equity markets were clobbered last week on above average volume, the NASDAQ fell more than 5%.

The Dollar also sprang to life, rising 3.1% after nine straight weeks of declines.

Last week, a bearish market signal known as the Hindenburg Omen was triggered.

The signal is derived from a combination of technical indicators.

The bears took control during Wednesday's session as the NYSE Composite Index fell 3.3% on above average volume.

A number of leadership stocks were hit hard including AAPL, CREE, AONE, VECO, SOLF, and WFC.

Equity markets were positive for the week ending Friday 8-6-2010, the S&P 500 led the way higher gaining 1.8% on light volume.

Over the next few days, be prepared for some volatility. We have the FOMC announcement on Tuesday at 2:15 PM.