Cracks in the upward trajectory for stocks have formed. Real Time Economic Calendar provided by Investing.com. *** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends. Stocks Entering Period of Seasonal Strength Today: Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here. Target Corp. (NYSE:TGT) Seasonal Chart Richelieu Hardware Ltd. (TSE:RCH.TO) Seasonal Chart Dime Community Bancshares, Inc. (NASD:DCOM) Seasonal Chart Waterstone Financial (NASD:WSBF) Seasonal Chart Achillion Pharmaceuticals Inc. (NASD:ACHN) Seasonal Chart Sprott Physical Silver Trust ETF (NYSE:PSLV) Seasonal Chart ETFS Physical Silver Shares (NYSE:SIVR) Seasonal Chart Inter Pipeline Ltd. (TSE:IPL.TO) Seasonal Chart The Markets Stocks closed lower on Friday following wild swings on either side of the flatline intraday. The S&P 500 Index closed down by 0.56%, continuing to maintain support at its rising 20-day moving average. Horizontal resistance at 3130 remains the defined hurdle overhead. Momentum indicators on this daily look remain on sell signals following the abrupt decline recorded in the prior week. For the week, the large-cap benchmark was higher by 1.86%, remaining supported at its 50-week moving average. But despite the week’s gain, the weekly chart still appears threatening following the decline in the prior week. The prior week’s reversal was realized just below resistance at the open gap around 3300, a logical level for the benchmark to at least consolidate recent gains. Following a number of weeks where upside progress was being made, cracks in that trajectory have been formed. The past week’s open was lower than the body of the prior week’s range and the close was firmly below the prior week’s open. These are still merely hints that a downside shift has begun. On the economic front, Statscan reported retail sales for April. The headline print indicated that sales in Canada fell by 26.4% in April, which is much weaker than the consensus analyst estimate that called for a decline of 15.0%. The year-over-year change now sits a –32.5%, down from –8.4% reported previous. Stripping out the seasonal adjustments, retail trade in this country actually fell by 21.4% in this spring month, which is a significant negative divergence compared to the 5.2% increase that is average for this time of year. The year-to-date change is down by 37.0%, which is 25.6% below the seasonal average trend. Motor vehicles, furniture, gasoline, and clothing store sales are weighing on the aggregate result, while grocery store sales are still holding above their average path for the year. Subscribers can login to view the seasonal charts for this report at https://charts.equityclock.com/canada-retail-trade-sales Sentiment on Friday, as gauged by the put-call ratio, ended slightly bullish at 0.91. Seasonal charts of companies reporting earnings today: S&P 500 Index TSE Composite