Trading Strategies for the Global Stock, Bond, Commodity, and Currency Markets 8 pot

... dollar. The entire decade saw the U.S. currency on the defensive. THE DOLLAR VERSUS THE CRB INDEX 61 FIGURE 5.5 THE U.S. DOLLAR VERSUS THE CRB INDEX DURING 1 988 AND 1 989 . THE DOLLAR BOTTOM AT THE ... both markets (see arrows). The 1 985 bottom in the gold market coincided exactly with the peak in the dollar the same year. The major top FIGURE 5 .8 THE...

Ngày tải lên: 20/06/2014, 23:20

... back to the beginning of the decade, the dollar bottomed in 1 980 , two years before the 1 982 bottom in stocks. In 1 988 and 1 989 the dollar and stocks rose pretty much in tan- dem. The peak in the ... stocks outperform gold by a wide margin (1 980 to 1 985 and 1 988 through the first half of 1 989 ). During periods of rising inflation (the 1970s and the period f...

Ngày tải lên: 20/06/2014, 23:20

... TO WORLD STOCK MARKETS. The Japanese Market Led World Markets Out of Their Late 1 987 Bottoms THE GLOBAL COLLAPSE OF 1 987 127 FIGURE 8. 5 ALL MARKETS SUFFERED A MINI-CRASH IN OCTOBER 1 989 AND THEN RECOVERED ... other markets. 124 INTERNATIONAL MARKETS FIGURE 8. 2 THE WORLD'S THREE LARGEST STOCK MARKETS RESUMED UPTRENDS TOGETHER IN EARLY 1 987 AND COLLAPSED TOGE...

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 1 987 and the last quarter of 1 989 . The S&L Index formed ... During 1 986 and 1 987 , 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...

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 1 987 coincided with a trough in the CRB Index. The breakdown in the two financial markets in the ... AND THEN RALLIED TOGETHER INTO THE SECOND HALF OF 1 989 . AS 1 989 ENDED, BOTH WEAKENED. Bonds versus Utilities the utilities.) Both rallied together to the fourth quart...

Ngày tải lên: 20/06/2014, 23:20

... PUSH THE CRB INDEX LOWER. THE 1 986 BOTTOM IN THE CRB INDEX OCCURRED A YEAR AFTER THE 1 985 PEAK IN THE DOLLAR. THE 1 988 PEAK IN THE CRB INDEX TOOK PLACE A HALF YEAR AFTER THE 1 988 BOTTOM IN THE ... both markets (see arrows). The 1 985 bottom in the gold market coincided exactly with the peak in the dollar the same year. The major top FIGURE 5 .8 THE DOLLA...

Ngày tải lên: 21/06/2014, 07:20

... compared the CRB Futures Index to the CRB Spot Index, and showed that the CRB Spot Index can be further subdivided into the Spot Raw Industrials and the Spot Foodstuff In- dexes. Although the CRB Spot ... 1 987 Began and Crashed Together in the Fall of the Same Year focuses on the events of 1 986 and 1 987 . As 1 987 began, all three markets were com- pleting a per...

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 1 980 s ended ... in the S&Ls in 1 986 coincides with the middle trough (the head) in the CRB Index. The third trough (the "right shoulder") in the CRB Index in the...

Ngày tải lên: 21/06/2014, 07:20

... in the CRB Index. The final top in the Dow Utilities and the final peak in the bonds in early 1 987 coincided with a trough in the CRB Index. The breakdown in the two financial markets in the ... AND THEN RALLIED TOGETHER INTO THE SECOND HALF OF 1 989 . AS 1 989 ENDED, BOTH WEAKENED. Bonds versus Utilities the utilities.) Both rallied together to the fourth quart...

Ngày tải lên: 21/06/2014, 07:20

... rates: bonds and, 3 and commodities, 13, 22, 106-1 08 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 ... 90 vs. the stock ma!rket, 54, 86 -89 and the stock market crash of 1 987 , 17- 18, 19, 88 , 243 vs. Treasury bill futures, 83 -86 and Treasury bonds, 57...

Ngày tải lên: 21/06/2014, 07:20