TAILIEUCHUNG - Trend Forecasting With Technical Analysis Chapter 7

Chapter 7 THE NEXT HORIZON. Where Do We Go From Here and What Does This Mean for Traders?As the world’s financial markets become increasingly integrated, intermarket analysis will play a crucial role in market analysis in the first decades of the 21st century, just as backtesting and optimization of single-market trading strategies became integral to computerized technical analysis in the late 20th century. | Chapter 7 THE NEXT HORIZON Where Do We Go From Here and What Does This Mean for Traders As the world s financial markets become increasingly integrated intermarket analysis will play a crucial role in market analysis in the first decades of the 21st century just as backtesting and optimization of single-market trading strategies became integral to computerized technical analysis in the late 20th century. The narrow single-market approach that analyzes each individual market based upon its own internal past price data must be supplanted by a multi-dimensional approach. A decade ago I referred to the synthesis of technical intermarket and fundamental approaches as synergistic market analysis. No financial market is an island. They are now all integrally linked to one another. Fortunately neural networks are not only well-suited to analyzing markets from both a single-market as well as an intermarket perspective but can also incorporate fundamental data inputs. These might include supply and demand statistics and economic data such as the Gross National Product the Producer Price Index the Consumer Price Index and Unemployment statistics. Even comparative economic statistics from different countries can be included. In effect as the financial markets continue to evolve technical analysis intermarket analysis and fundamental analysis will blend together creating the three-legged stool known as financial market analysis. By utilizing the computational modeling capabilities of neural networks in a structured framework that integrates seemingly disparate Trend Forecasting With Technical Analysis 99 FIGURE 7-1. SYNERGISTIC ANALYSIS LOOKS AT THE BIG PICTURE The next phase in the evolution of technical market analysis will be synergistic market analysis combining technical intermarket and fundamental data. This completes the three-legged stool of financial market analysis covering the entire global economic and financial landscape. Source Market Technologies Corporation .

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