Intermarket Analysis -Great stuffs to share
Posted by Book Eater in Cool sites
Intermarket Analysis is Important
Brett offers great advice especially in teaching his readers that intermarket analysis helps.
Even if you don't trade currencies or US, Nikkei, HK or other emerging markets, its important to learn how the big guys are doing.
Read these posts on Intermarket Analysis:
1.) http://traderfeed.blogspot.com/2008/04/currencies-interest-rates-and-stocks.html
2.) http://traderfeed.blogspot.com/2006/11/trading-market-by-knowing-who-is.html
"If you focus only on *your* market, it's easy to get run over when the big money managers act on a theme you don't even see. If you start thinking like the pros, you may just start trading like one." - Brett
I added a friend's blog - http://crossmarketstrader.blogspot.com/
I've been reading some of his posts and I say that its a great reading to start your day.
If you prefer to watch videos: Brian from Alphatrends has made it very easy and his opinions are good.
His opinion on April 18,2008 -> ttp://www.youtube.com/watch?v=qYlCOnn0Xog
Basically, the gist is: we have the bulls in control for the moment but we are already overextended. If you have to buy, wait for any retracements. There are some overhead resistances at 48 (for the ETF of S&P500). We're about 5% from there. It would be great to see a few pullbacks to retest first before proceeding to those resistances.
We have also finished the inverse head and shoulders pattern in the US indices. To see the actual charts, just check the video:)
-Nix