Note: This chart initially uses the S&P 500 as its "baseline." Click on the S&P 500 button to view absolute performance numbers.

Note: This chart initially uses the S&P/TSX Composite as its "baseline." Click on the S&P/TSX Composite button to view absolute performance numbers.

Interpretation

Intermarket Technical Analysis is the study of the relationships between the four major financial markets: Stocks, Bonds, Commodities and Currencies. There are several key relationships that bind these four markets together. These relationships are:

  • The INVERSE relationship between commodities and bonds
  • The INVERSE relationship between bonds and stocks
  • The POSITIVE relationship between stocks and commodities
  • The INVERSE relationship between the US Dollar and commodities

POSITIVE: When one goes up, the other goes up also.
INVERSE: When one goes up, the other goes down.

When these relationships occur, the markets are said to be acting "normally" and there is a good probability the current trends will continue. When one or more of these relationships break down, the markets should be watched carefully for signs of general trend reversals.

[For more detailed info, see John Murphy's book Intermarket Technical Analysis which we highly recommend.]

久久香蕉国产线看观看精品