A PICTURE IS WORTH A THOUSAND WORDS

John Murphy
by John Murphy,
Chief Technical Analyst, StockCharts.com

SHORT-TERM VIEWS ... They say a picture is worth a thousand words. At the moment, I've run out of words (meaning that I don't want to keep repeating the same ones). But I never run out of pictures (thanks to Stockcharts.com). As far as I can see, nothing has changed in any of the trends that we've been describing since the start of the year. Stocks and the dollar keep dropping, while bonds and commodities keep rising. Today, I'm just going to be quiet and show you the pictures. I'm using hourly charts to give a closer view of recent short-term trends. We'll start with some of the markets that are rising.

Chart 1

Chart 2

Chart 3

Chart 4

NOW FOR SOME THAT ARE DROPPING...

Chart 5

Chart 6

Chart 7

Chart 8

THE SKILL IN INVESTING IS DISTINGUISHING BETWEEN WHAT'S GOING UP AND WHAT'S GOING DOWN ...

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John Murphy
About The Author:

John is a renowned author in the investment field and former technical analyst for CNBC. Considered the father of intermarket technical analysis, his books include “Technical Analysis of the Financial Markets” and “Trading with Intermarket Analysis”. Learn More 

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