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Praise for Trading with Intermarket Analysis “John Murphy makes it absolutely clear that all markets are interrelated. It would be silly to trade stocks without. The following is a summary of our recent interview with market technician John Murphy, which can be accessed on our site here or on iTunes. In finance, intermarket analysis refers to the study of how “different sectors of the market move in relationships with other sectors.” Technical analyst John J. Murphy pioneered this field.

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Conversely, a decline in bond prices and rise in interest rates decreases the deflationary threat and this is positive for stocks.

Click here to learn how to enable JavaScript. FS Staff Financial Sense. As a intermarkket practitioner of intermarket analysis, I thought I knew most aspects of this invaluable subject, but this book gave me several new ideas. Obviously, deflationary forces change the whole dynamic. He currently lives in New Jersey. This benefits large multinational stocks that derive a large portion of their sales overseas.

I think stocks are close to peaking, and commodities are just really starting to turn.

Intermarket Analysis

For that reason, John Murphy is referred to as the father of intermarket analysis with his books a standard reference among technicians. He is a recipient of the Market Technicians Annual Award. Your Browser does not have JavaScript enabled! The intermarket relationships depend on the forces of inflation or deflation. Positive relationship between bonds and stocks.

Intefmarket these analsyis forces that push stock prices up, push bond prices down. Inhe was given the first award for outstanding contribution to global technical analysis by the International Federation of Technical Analysts, and received a lifetime achievement award from the same organization in anaoysis Murphy has a bachelor of arts in economics and a master of business administration from Fordham University.


The Stealth Bear Market of 33 4. Mendelsohn, creator of VantagePoint Intermarket Analysis software “John Murphy’s Intermarket Analysis should be on the desk of every trader and investor if they want to be positioned in the right markets intrmarket the right time.

If this is a republication request please include details of the new mugphy in which the Wiley content will appear. When one goes up, the other goes down. By extension, a weak Dollar is also generally bearish for bonds. Furthermore, the techniques shown in this article should be used in conjunction with other technical analysis techniques. These are the key intermarket relationships in an inflationary environment: The list below summarizes the key intermarket relationships during a deflationary environment.

This book is a must-read for all serious traders.

One indicator or one relationship should not be used on its own to make a sweeping assessment of market conditions. Knowing these relationships can help chartists determine the stage of the investing cycle, select the best sectors and avoid the worst performing sectors. This updated version provides even more lessons from the past, plus fresh insights on current market trends. There will come a point in the cycle where rising commodity prices trigger inflation, and the Fed will get aggressive, he stated.

John Murphy on Intermarket Analysis and the Sequence of Market Peaks

He also authored Technical Analysis of the Financial Markets. Table of Contents Intermarket Analysis. Armed with a intermxrket of how economic forces impact various markets and financial sectors, investors and traders can profit by exploiting opportunities in markets about to rise and avoiding those poised to fall.

We currently see stocks at record levels and interest rates are starting to rise. Unrest in oil producing countries or regions usually causes oil prices to surge. Much of the material for this article comes from John Murphy’s book and his postings in the Market Message at StockCharts.


While the Dollar and currency markets are part of intermarket analysis, the Dollar is a bit of a wildcard. Intermarket analysis is a valuable tool for long-term or medium-term analysis. Today, this type of holistic thinking is much more commonplace but when Murphy first laid it out years ago, such murpuy were not well understood. X To apply for permission please send your request to permissions wiley.

Murphy is a former technical analyst for CNBC and has over forty years of market experience. We hope you enjoy the new experience. Allow additional time for delivery. Over the last month or two, Murphy said he has been watching the slide in the price of oil and the pullback in base metals such as copper. For example, over the last several months, as bond yields go up, certain sectors of the market, such as economically-sensitive stocks, do better in that environment.

Author Information John J. This means stocks rise when bonds fall and vice versa.

Intermarket analysis – Wikipedia

This marked a decoupling between stocks and bonds that would last for many years. Bloggat om Trading with Intermarket Analysis. Trading with Intermarket Analysis provides advice on trend following, chart patterns, moving averages, oscillators, spotting tops and bottoms, using exchange-traded funds, tracking market sectors, and the new world of intermarket relationships, all presented in a highly visual way.

As a result, chartists can watch industrial metal prices for clues on the economy and the stock market. Getting Started in Commodities.