Trading Strategies for the Global Stock, Bond, Commodity, and Currency Markets 7 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 ... bottom in the CRB Index. The relationship between the dollar and the gold market is very important in fore- casting the trend of the general commodity price level...

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 ... in the summer of 1986, whereas the Foodstuffs didn't bottom out until the first quarter of 19 87. The Foodstuffs, on the other hand, peaked in mid-1988 a...

Ngày tải lên: 20/06/2014, 23:20

... out of the six with an average lead time of eight months. The two times when the CRB Index lagged turns in the CPI Index (1 977 and THE CRB INDEX VERSUS THE PPI AND THE CPI 119 FIGURE 7. 17 THE CRB ... watch the oil charts, and vice versa. THE INTERMARKET ROLES OF GOLD AND OIL There are times when the gold and oil futures markets, either in tandem or separat...

Ngày tải lên: 20/06/2014, 23:20

... through the beginning of 1990. The tendency of the S&L group to lead the broad market at tops can be seen both in the second half of 19 87 and the last quarter of 1989. The S&L Index formed ... During 1986 and 19 87, 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 t...

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 19 87 coincided with a trough in the CRB Index. The breakdown in the two financial markets in the ... month before the utilities. In 1 977 the industrials peaked about six months before the utilities. Of the eight major turns since 1 970 the utilities led the indust...

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 ... higher. The rise in the dollar at the beginning of 1988 followed the rise in the CRB Index and interest rates that began in the spring of 19 87. Are commo...

Ngày tải lên: 21/06/2014, 07:20

... turns in the CPI Index (1 977 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 CONSUMER PRICE INDEX (CPI-W) AND THE PRODUCER ... of change for the CPI and the PPI against cash values of the CRB Index also reveals a close visual correlation (see Figures 7. 17 and 7. 18). The...

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 1986 coincides with the middle trough (the head) in the CRB Index. The third trough (the "right shoulder") in the CRB Index in the spr...

Ngày tải lên: 21/06/2014, 07:20

... bottomed together In 1 970 the industrials bottomed one month before the utilities. In 1 977 the industrials peaked about six months before the utilities. Of the eight major turns since 1 970 the utilities ... in the CRB Index. The final top in the Dow Utilities and the final peak in the bonds in early 19 87 coincided with a trough in the CRB Index. The breakdown...

Ngày tải lên: 21/06/2014, 07:20

... rates: bonds and, 3 and commodities, 13, 22, 106-108 vs. the CRB, PPI, and CPI, 120 and the dollar, 9, 19, 74 , 75 -79 , 86, 94 global, 139-141 and inflation, 20, 86 long-term, 12, 75 , 79 -82 metals and ... 138 Flags, 273 , 274 , 275 Flight to quality, 152 Flight to safety, 24, 47, 76 , 87, 153 Foreign currency markets, 60, 66—68 Franc, Swiss, 66 France, 142 Fun...

Ngày tải lên: 21/06/2014, 07:20