When looking at the weekly chart for the Dow Industrial Average you observe that the Dow ended last week just above its five-week MMA at 12, 974 with the 12x3x3 weekly slow stochastic reading declining below 80 at 78.24.
The transports ended the week with a negative weekly chart profile with declining momentum (12x3x3 weekly slow stochastic) reading and a weekly close below the five-week modified moving average at 5108.
Publishers might be able to determine when interest in a fiction series is flagging if readers who bought and finished the first two books quickly suddenly slow down or quit reading later books in the series.
Using a 4-month chart, a 10-period relative strength index reading of 7 and slow stochastics in deeply oversold territory indicate Hormel could be attractively priced in the current price range.
The weekly chart for the Dow shifted to neutral not negative as its 12x3x3 weekly slow stochastic or market momentum (what I refer to as MOJO) reading remained above 80.00 at overbought reading of 83.99.
They will watch the reports in coming weeks to get a more steady reading on jobless claims, while unemployment is still being reflected in the still subdued consumer spending activity and slow hiring in construction and professional business services.