A significant test is upon the market as the S&P 500 Index tests its spring breakdown point and the neckline to the head-and-shoulders topping pattern at 4280. 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. Boston Omaha Corp. (NASD:BOMN) Seasonal Chart Invesco KBW Regional Banking ETF (NASD:KBWR) Seasonal Chart Vanguard U.S. Total Market Index ETF (TSE:VUN.TO) Seasonal Chart ViaSat, Inc. (NASD:VSAT) Seasonal Chart Dycom Industries, Inc. (NYSE:DY) Seasonal Chart Digi Intl Inc. (NASD:DGII) Seasonal Chart Aurora Cannabis Inc. (NASD:ACB) Seasonal Chart Hilton Grand Vacations Inc. (NYSE:HGV) Seasonal Chart Healthcare Services Group, Inc. (NASD:HCSG) Seasonal Chart WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund (AMEX:DDLS) Seasonal Chart The Markets Stocks ended the week on a positive note as the S&P 500 Index takes another swing at resistance around the declining 200-day moving average and horizontal resistance at 4280. The benchmark gained 1.73%, officially becoming overbought with the Relative Strength Index back above 70 for the first time since November of last year. While many may view this as indication of a market that has has achieved its maximum potential, it should actually be perceived as indication of a bull market trend, one that is no longer showing characteristics of a bear-market decline. Since the start of the year, both RSI and MACD have held predominantly below their middle lines, but they are well beyond these mid-points now as characteristics of a bullish trend materialize. The 50-day moving average at 3952 continues to be looked upon as logical support to the intermediate-term trend that we still expect to rise into the end of the year. But before we get to that end-point, a retracement/pullback remains desired and healthy. Today, in our Market Outlook to subscribers, we discuss the following: Weekly look at the large-cap benchmark Recent outperformance of small-caps Emerging market equities Big test of the intermediate trend of yield spreads US Wholesale Sales Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for August 15 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 neutral at 0.96. Seasonal charts of companies reporting earnings today: S&P 500 Index TSE Composite