All of the major indices have maintained a bullish stance, but almost all have slowed their pace. This leads me to opine about a subject Raymond James' Jeff Saut wrote about last week — patience — in which he referenced an article titled, "Investing 101: Be Patient When Markets Are Looking For A Trend."

The article concludes that in slow, trendless, near-term markets, investors often feel that they must do something. Since they have no basis for doing something, something could be the worst thing to do.

Yes, all of our indicators are bullish, but that doesn't mean the bulls will reap rewards today. Traders are especially vulnerable to the fear of doing nothing. "Don't just stand there, do something" possibly still rings in their ears from some authority figure like their father or drill sergeant. But doing nothing can be the best course in slow markets.

Cash is not king, but my timing indicators tell me that the narrow range with many crosscurrents could last for another week or so.

According to the Stock Trader's Almanac, the month of August during an election year is usually very bullish, up 73% of the time. But with both candidates in the weeds, who can bank on either for future financial success?