Trading Strategies for the Global Stock, Bond, Commodity, and Currency Markets 6 doc

... by the trend of the U.S. dollar. Therefore, we begin our intermarket analysis with the dollar. The path to take is from the dollar to the commodity markets, then from the commodity markets to the ... month. 66 COMMODITIES AND THE US. DOLLAR FOREIGN CURRENCIES AND GOLD Now another dimension will be added to this comparison. Gold trends in the opposite direction of...

Ngày tải lên: 20/06/2014, 23:20

... direction and sometimes in the same direction. The trick is in understanding the lead and lag times that usually occur and also the sequence of events that affect the two markets. Figure 6. 11 shows the ... agricultural markets (62 %) versus the non-food markets (38%) and, second, the heavy weighting of the grain sector (28 .6% ) relative to the other commodi...

Ngày tải lên: 20/06/2014, 23:20

... Bonds GLOBAL BONDS AND GLOBAL INFLATION Figure 8.20 shows the interplay between U.S. and Japanese bond prices (two charts on the left) and the U.S. and Japanese stock markets (two charts on the ... compares the British and American markets during 19 86. The peak in the British market in the spring of 19 86, and its ensuing correction, coincided with a perio...

Ngày tải lên: 20/06/2014, 23:20

... During 19 86 and 1987, the S&L group was caught in between the upward pull of rising stock prices and the downward pull of a falling bond market. By the time the S&Ls were forming their "right ... such as gold and oil. The study of gold and oil leads us to the next stop on the intermarket journey, and that is the study of industry groups. Two global...

Ngày tải lên: 20/06/2014, 23:20

... in the CRB Index. The final top in the Dow Utilities and the final peak in the bonds in early 1987 coincided with a trough in the CRB Index. The breakdown in the two financial markets in the ... (energy and precious metals) and the weakest group (the grains). Each Figure shows the actual commodity group index in the upper chart and the relative ratio line...

Ngày tải lên: 20/06/2014, 23:20

... the commodity markets is largely determined by the trend of the U.S. dollar. Therefore, we begin our intermarket analysis with the dollar. The path to take is from the dollar to the commodity markets, then ... still the problem of lead and lag times. It can be seen that turns in the dollar lead turns in the CRB Index. The 1985 top in the dollar preceded the 19 8...

Ngày tải lên: 21/06/2014, 07:20

... Bonds GLOBAL BONDS AND GLOBAL INFLATION Figure 8.20 shows the interplay between U.S. and Japanese bond prices (two charts on the left) and the U.S. and Japanese stock markets (two charts on the ... turns in the CPI Index (1977 and THE CRB INDEX VERSUS THE PPI AND THE CPI 119 FIGURE 7.17 THE CRB FUTURES PRICE INDEX VERSUS ANNUAL RATES OF CHANGE FOR THE C...

Ngày tải lên: 21/06/2014, 07:20

... such as gold and oil. The study of gold and oil leads us to the next stop on the intermarket journey, and that is the study of industry groups. Two global themes that were seen as the 1980s ended ... in the S&Ls in 19 86 coincides with the middle trough (the head) in the CRB Index. The third trough (the "right shoulder") in the CRB Index in the s...

Ngày tải lên: 21/06/2014, 07:20

... later the broader stock market followed bonds and the utilities lower. The key to understanding the relationship between the Dow Utilities and the Dow Industrials lies in the recognition of the ... in the CRB Index. The final top in the Dow Utilities and the final peak in the bonds in early 1987 coincided with a trough in the CRB Index. The breakdown in th...

Ngày tải lên: 21/06/2014, 07:20

... 222 Dollar, U.S.: . and commodity prices, 56- 57, 75 vs. the CRB Index, 59 -62 , 70-72, 264 foreign currencies and, 66 gold market and, 60 , 63 -65 , 73, 2 56, 265 and inflation, 40, 54, 56, 72-73 and interest ... 47, 76, 87, 153 Foreign currency markets, 60 , 66 68 Franc, Swiss, 66 France, 142 Fundamental analysis, 7, 274 Futures markets, 7-8, 53, 95, 2 16- 217, 255 G...

Ngày tải lên: 21/06/2014, 07:20