‘Trading with Intermarket Analysis’: By John J Murphy

As part of our offering to members (plus all and sundry), we are sharing videos of lectures by some the most important contemporary technical analysts. We start with legend John Murphy, who’s text book ‘Technical Analysis of the Futures Markets’ many of us were weaned on. He then revised and expanded it into ‘Technical Analysis of Financial Markets’, which is just as widely read today.

This video was encoded for YouTube this month by a Committee member of the Society of Technical Analysts, and was recorded when London hosted the  2014’s annual meeting of the International Federation of Technical Analysts. Mr Murphy’s theme, of which he was one of its first proponents, is intermarket analysis and he has lots of great examples of how to use ratios between different charts; overlays, make currency adjustments, and comparisons feature widely.

Winner of IFTA’s Lifetime Achievement Award and an STA Fellow, despite the advancing years to which he admits, he is a good speaker, keeps a steady pace, and is calm and collected. At the time, he was Chief Technical Analyst for StockCharts.com, writing primarily for a US audience.

What might be an interesting exercise for viewers is to compare the forecasts he made in 2014 and how, or if, they panned out as predicted. From there, the next step is to spot why and when things went wrong; not as a critique, but as a lesson in deciding where one has to change one’s mind.



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The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA.

The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

None of the information on the STA’s blog constitutes investment advice.

About Nicole Elliott

Nicole Elliott

A graduate of the London School of Economics and Political Science (BSc Social Psychology) Nicole Elliott has worked in banks in the City of London for the last 30 years. Whether in sales, trading or forecasting technical analysis has always been the bedrock of her thinking. Key expertise lies within all areas of treasury: foreign exchange, money markets, fixed income and commodities.

She has also added to the body of knowledge of the industry writing the first western book on Ichimoku Cloud Charts. Strong media links and a cult following are due to her prescient calls on the markets and often entertaining format.

Nicole can be contacted at trending@sta-uk.org

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