Both Canada and the US recorded a sharp drop in employment in July, one better than average, the other worse. 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. Norfolk Southern Corp. (NYSE:NSC) Seasonal Chart Southern Copper Corp. (NYSE:SCCO) Seasonal Chart Roper Technologies, Inc. (NYSE:ROP) Seasonal Chart iShares Canadian Select Dividend Index ETF (TSE:XDV.TO) Seasonal Chart iShares North American Tech ETF (NYSE:IGM) Seasonal Chart VanEck Vectors Retail ETF (NASD:RTH) Seasonal Chart Global X Robotics & Artificial Intelligence Thematic ETF (NASD:BOTZ) Seasonal Chart Global X China Energy ETF (NYSE:CHIE) Seasonal Chart Starbucks Corp. (NASD:SBUX) Seasonal Chart J&J Snack Foods Corp. (NASD:JJSF) Seasonal Chart LyondellBasell Industries NV (NYSE:LYB) Seasonal Chart The Markets Stocks drifted lower following the release of the nonfarm payroll report for July, which reiterated that the Fed has the ticket to continue on its aggressive tightening path. The S&P 500 Index closed lower by less than two-tenths of one percent, continuing to show reaction to the May highs and horizontal resistance at 4170. Momentum indicators are showing early signs of rolling over as the upward trajectory stalls at this pivotal point in the intermediate path of lower-lows and lower-highs. Short and intermediate moving averages are increasingly pointing higher, defining positive short and intermediate term trends and providing points of support should a retracement into the middle of August commence. Any revelation of a higher intermediate low above the June bottom would be viewed as a bullish outcome for the market as it sets aside the declining path that it has been in since the year began. Today, in our Market Outlook to subscribers, we discuss the following: Weekly look at the large-cap benchmark US Employment Situation Treasury Yields Canada Labour Force Survey Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for August 8 Not signed up yet? Subscribe now to receive full access to all of the research and analysis that we publish. Sentiment on Friday, as gauged by the put-call ratio, ended bullish at 0.87. Seasonal charts of companies reporting earnings today: S&P 500 Index TSE Composite