The McClellan Oscillator is a very unique and powerful indicator that when used properly can tell you a lot about the market. Right now it is not confirming a bearish summer (this can change though). I have attached an update to the McClellan Oscillator along with annotations.
Regular updates can be found here along with more info on the Oscillator: Analyzing the McClellan Oscillator
Also the SP 500 stock chart has been updated.