Intermarket Technical Analysis: Trading Strategies for the Global Stock, Bond, Commodity, and Currency Markets

by John J. Murphy

Trying to trade stock, bond, commodity and currency markets without intermarket awareness is like trying to drive a car without looking out the side and rear windows--very dangerous. In this guide to intermarket analysis, the author uses years of experience in technical analysis plus extensive charts to clearly demonstrate the interrelationshps that exist among the various market sectors and their importance. You'll learn how to use activity in surrounding markets in the same way that most people employ traditional technical indicators for directional clues. Shows the analyst how to focus outward, rather than inward, to provide a more rational understanding of technical forces at work in the marketplace.

Genres: Finance, Business, Economics

288 pages, Hardcover

First published March 1, 1991

About the author

John J. Murphy is an American financial market analyst and is considered to be the Father of Inter-market Analysis. He received an award for outstanding contribution to global technical analysis by the International Federation of Technical Analysts.

Reviews

[Tadas Talaikis · Rating 3 out of 5]

Well, people just love hearing "the key to ... is this...", as to believe is so easy than employ some hard, statistical thinking. Technical analysis does not work. And in this case, provided anecdotes have almost no use in reality.

[Steven · Rating 4 out of 5]

A rewarding read, basically explaining the relations between markets. The basic ideas of the book are:
1. If dollar goes down, commodity price will go up as a buffer for inflation, which drives up interest rate, lowers bond price, and lowers stock price. It's not that simple but that's the basic relationship.
2. Commodity index can be used to predict stock market movements (using the CRB Index/bond prices ratio) and reduce portfolio risk due to low correlation with bond and stock prices.

However, it's an old book, most of the cases involve the 1982-90 prices, and I would be very interested to study how this kind of intermarket correlation perform beyond that time frame.

[Sadra · Rating 2 out of 5]

این کتاب صرفا برای افراد تازه‌کار خوب است و کسانی که در حوزه اقتصاد و بازارهای مالی اطلاعات دارند و مدتی در بازار بوده‌اند فقط لازم است عناوین را بخوانند که بفهمند نحوه همبستگی دارایی‌ها با هم چگونه است.

همبستگی‌ها همیشگی نیستند ولی این کتاب چون مباحث را تکنیکال بررسی کرده است به تفاوت زمان‌ها چندان اشاره نمی‌کند بنابراین درک کلیات آن و سپس بررسی شخصی و عمیق‌تر بازار بهتر است.

همچنین مشابه کتاب قوی سیاه، نسبت محتوای مفید کتاب به حجم آن پایین است به همین علت توصیه می‌کنم همان تیترها را فقط بخوانید و بگذرید.

[Ettore · Rating 3 out of 5]

Libro del 1991 che evidenzia le correlazioni tra le asset class. Non aggiornato

[Kevin · Rating 5 out of 5]

Pretty good intro into world markets