In today's Barron's Online column I talked about intermarket forces and how they can give us clues as to what is going to happen in the various markets. I just finished re-reading my copy of John Murphy's Intermarket Analysis and it is fascinating how all of these asset classes - stocks, bonds, commodities and the dollar - interact. Better yet, they can give us a read on the economy that far surpasses the predictions of the economist crowd.
What was that old joke? If you put all the economists of the world end to end they still would not reach a conclusion.
Intermarket analysis makes the economists' jobs so much easier and makes my own technical opinions that much stronger.
And for those who have been reading my work for a long time, you may have noticed great similarities in style to John Murphy. He does not know it but he has been my mentor since I started in this business in 1986. And he started Getting Technical (at Barron's Online before handing the keys to me. Ah, trivia.