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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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For that reason, John Murphy analysid referred to as the father of intermarket analysis with his books a standard reference among technicians. Please read our Privacy Policy.

Intermarket Analysis

InJohn was given the first award for outstanding contribution to global technical analysis by ahalysis International Federation of Technical Analysts, and is the recipient of the Market Technicians Association Annual Award. Though the Fed raised rates, the statement was viewed as more dovish than what people were expecting, which led to a sharp drop in bond yields.

Furthermore, the techniques shown in this article should be used in conjunction with other technical analysis techniques. There are clear relationships between stocks and bonds, bonds and commodities, and commodities and the Dollar.


He also authored Technical Analysis of the Financial Markets. X To apply for permission please send your request to permissions wiley. Countries with weak economies and big debt burdens are subject to weaker currencies. Learn how to utilize Mrphy to trade and profit off these key market drivers. A rising Dollar puts downward pressure on commodity analtsis because many commodities are priced in Dollars, such as oil.

Bloggat om Trading with Intermarket Analysis.

He is senior writer for StockCharts. In an inflationary environment, stocks react positively to falling interest rates rising bond prices. Your Browser does not have JavaScript enabled! Inhe was given the first award for outstanding contribution intermarkeh global technical analysis by the International Federation of Technical Analysts, and received a lifetime achievement award from the same organization in Study Guide John J Murphy.

People became very optimistic about the economy with infrastructure spending, inflation, and other stimulatory forces intermarkte to ramp up. As a result, chartists can watch industrial metal prices for clues on the economy and the stock market. Skickas inom vardagar. We also saw a sharp drop in the dollar.

This means stocks rise when bonds fall and vice versa. Deflation is negative for stocks and commodities, but positive for bonds. While the Dollar and currency markets are part of intermarket analysis, the Dollar is a bit of a wildcard.

And normally, a commodity bottom will coincide with a bond peak. Visit your Subscriber Features to find updated information. Obviously, a big advance in commodities would be bearish for bonds. What are the effects of a rising Dollar? In particular, oil is prone to supply shocks. The Energy World is Flat: Today, this type of holistic thinking is much more commonplace but when Murphy first laid it out years ago, such interrelationships were not well understood.


Much of the material for this article comes from John Murphy’s book and his postings in the Market Message at StockCharts. I thoroughly recommend it for beginners and professionals.

Intermarket analysis – Wikipedia

He dissects the global relationships between equities, bonds, currencies, analysia commodities like no one else can, and lays out an irrefutable case for intermarket analysis in plain English. This updated version provides even more lessons from the past, plus fresh analyssis on current market trends.

Rising prices reflect increasing demand and a healthy economy; falling prices reflect decreasing demand and a weak economy. This dynamic also plays an important role within the stock market, Murphy added.