Believe it or not, the stock market is still showing health as measured by several indicators such as advance/decline and breadth.
I find it hard to believe myself sometimes with all going on, but I think it was Sir John templeton that said bull markets climb walls of worry. This cyclical stock bull has been going on since 2009.....of course....along with the continuing secular gold/silver bull.
Also...the dollar got dangerously close to 2008 levels...yet reversed and has been stair stepping upward for a while. Mind you, I believe this current stock market uptrend and dollar uptrend will reverse one day when it ends. I'm just saying that for now, don't look for any stock market collapse.....meaning, they'll probably temporarily resolve the debt ceiling and other issues for the time being.
As a matter of fact, the breath indicator for the US stock market was quite strong on July 1. So strong in fact, that indicator readings of that level have almost always been proceeded by higher stock market levels six months later. To me, if this indicator shows to be accurate again for the next six months, this is good, because it gives everyone more time to prepare.