JOHN J. MURPHY is a former technical analyst for CNBC and has over forty years of market experience. He is the face of StockCharts.com, which provides financial information to online investors via technical analysis tools. Murphy has appeared on Bloomberg TV, CNN's Moneyline, Nightly Business Report, and Wall $treet Week with Louis Rukeyser. In 1992, he was given the first award for outstanding contribution to global technical analysis by the International Federation of Technical Analysts, and was the recipient of the 2002 Market Technicians Association Annual Award. In addition to the First Edition of The Visual Investor, he is also author of Intermarket Technical Analysis and Intermarket Analysis, all of which are published by Wiley. He also authored Technical Analysis of the Financial Markets. Murphy has a bachelor of arts in economics and a master of business administration from Fordham University.

Klappentext

Visual analysis, also known as technical or chart analysis, is one of the best ways to invest in today's markets--and it's not as hard as you might think. This proven approach allows you to follow almost any market, without having to be an expert on any of them, and it can give you an enormous advantage over those who prefer to use some form of economic or fundamental analysis. With over forty years of market experience and a number of bestselling financial books to his name, John Murphy, one of the world's foremost technical analysts and educators, knows what it takes to make it in this field. Now, with the Second Edition of The Visual Investor--which has been completely updated for current markets--Murphy shares his invaluable insights on this subject with you. Written in a straightforward and accessible style, this updated guide will introduce you to "visual" investing by explaining a variety of charting techniques that professionals have used for decades, and shows you how specific visual tools can put you in a better position to successfully trade commodities, currencies, bonds, and stocks in both domestic and global financial markets. With the real-world examples and comprehensive charts found here, you'll quickly discover how to:

Tell the difference between markets that are trending and those that are not
Locate important breakouts or breakdowns
Spot significant support and resistance levels
Implement asset allocation and sector rotation strategies through exchange-traded funds and mutual funds
Utilize moving averages to keep track of trends
Incorporate essential price patterns into your investment analysis Along the way, Murphy takes you through the ins and outs of reading price and volume charts that can help you make sensible investment decisions, and highlights how you can track the ups and downs of financial markets by visually comparing charts--instead of relying upon complex mathematical formulas and confusing technical concepts. Knowing why a market is moving is interesting, but not crucial to investment success. In order to trade profitably, all that really matters is what the markets are actually doing. Visual analysis is the best way to determine this, and with the Second Edition of The Visual Investor as your guide, you'll learn how to put this effective approach to work for you to enhance the performance of your portfolio.

Inhalt
Preface. Acknowledgments. SECTION ONE: INTRODUCTION. What Has Changed? Fund Categories. Global Funds. Investors Need to Be Better Informed. Benefits of Visual Investing. Structure of the Book. CHAPTER 1: What Is Visual Investing? Why Market Analysis? The Trend Is to Blend. What's in a Name? Why Study the Market? Chartists Are Cheaters. It's Always Just Supply and Demand. Charts Are Just Faster. Charts Do Look Ahead. Pictures Don't Lie. Picture Anything You Want. The Market's Always Right. It's All About Trend. Isn't the Past Always Prologue? Timing Is Everything. Summary. CHAPTER 2. The Trend Is Your Friend. What Is a Trend? Support and Resistance Levels. Role Reversal. Short Versus Long Term. Daily, Weekly, and Monthly Charts. Recent versus Distant Past. Trendlines. Channel Lines. Retracing Our Steps by One-Third, One-Half, and Two-Thirds. Weekly Reversals. Summary. CHAPTER 3: Pictures That Tell a Story. Chart Types. Time Choices. Scaling. Volume Analysis. Chart Patterns. Measuring Techniques. Even the Fed Is Charting. The Triangle. Points and Figure Charts. Chart Pattern Recognition Software. SECTION TWO: INDICATORS. CHAPTER 4 Your Best Friend in a Trend. Two Classes of Indicators. The Moving Average. The Simple Average. Weighting the Average or Smoothing It? Moving Average Lengths. Moving Average Combinations. Summary. CHAPTER 5: Is It Overbought or Oversold? Measuring Overbought and Oversold Conditions. Divergences. Momentum. Welles Wilde's Relative Strength Index. The Stochastics Oscillator. Combine RSI and Stochastics. Summary. CHAPTER 6: How to Have the Best of Both Worlds. MACD Construction. MACD as Trend-Following Indicator. MACD as an Oscillator. MACD Divergences. How to Blend Daily and Weekly Signals. How to Make MACD Even Better-The Histogram. Be Sure to Watch Monthly Signals. How to Know Which Indicators to Use. The Average Directional Movement (ADX) Line. Summary. SECTION THREE: Linkage. CHAPTER 7 Market Linkages. The Asset Allocation Process. The Relative Strength Ratio. 2002 Shift from Paper to Hard Assets. Commodity/Bond Ratio also Turned up. Turns in the Bond/Stock Ratio. 2007 Ratio Shifts Back to Bonds. Bonds Rise as Stocks Fall. Falling U.S. Rates Hurt the Dollar. Falling Dollar Pushes Gold to Record High. Commodity-Related Stocks. Foreign Stocks Are Linked to the Dollar. Commodity Exporters Get Bigger Boost. Global Decoupling Is a Myth. Rising Yen Threatens Global Stocks. Review of 2004 Intermarket Book. Summary. CHAPTER 8: Market Breadth. Measuring Market Breadth with NYSE Ad Line. NYSE Ad Line Violates Moving Average Lines. Advance-Decline Shows Negative Divergence. Where the Negative Divergences Were Located. Retail Stocks Start to Underperform During 2007. Retailers and Homebuilders Were Linked. Consumers are also Squeezed by Rising Oil. Dow Theory. Transports Don't Confirm Industrial High. Percent of NYSE Stocks above 200-Day Average. NYSE Bullish Percent Index. Point-and-Figure Version of BPI. Summary. CHAPTER 9: Relative Strength and Rotation. Uses of Relative Strength. Top-Down Analysis. Relative Strength versus Absolute Performance. Using Relative Strength between Stocks. Comparing Gold Stocks to Gold. How to Spot New Market Leaders. Where the Money Came from. Spotting Rotation Back into Large Caps. Trend Changes Are Easy to Spot. Rotation within Market Sectors. Chinese Stocks Lose Leadership Role. Summary. SECTION FOUR: MUTUAL FUNDS AND EXCHANGE TRADED FUNDS. CHAPTER 10 Sectors and Industry Groups. Difference between Sectors and Industry Groups. Performance Charts. Sector Carpets. Using Market Carpet to Find Stock Leaders. Industry Group Leader. Sector Trends Need to Be Monitored. Information on Sectors and Industry Groups. Spotting Natural Gas Leadership. Natural Gas Components. CBOE Volatility (VIX) Index. Summary. CHAPTER 11: Mutual Funds. What Works on Mutual Funds. Open-versus Closed-End Funds. Charting Adjustments on Open-End Funds. Blending Fundamental and Technical Data. Relative Strength Analysis. Traditional and Nontraditional Mutual Funds. Keep It Simple. 200-Day Moving Avera