O'Reilly logo

Technical Analysis Explained, Fifth Edition: The Successful Investor's Guide to Spotting Investment Trends and Turning Points, 5th Edition by Martin J. Pring

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

22 PRICE: SECTOR ROTATION

Chapter 2 discussed the relationship between the three key asset classes—debt, equity, and commodities—and the business cycle. It was established that there are certain periods when they move in concert, but more often, their trends diverge. The combination depends on the maturity of the business cycle. The most important point to remember is that deflationary forces predominate during the early stages of the cycle, whereas inflationary pressures come to the fore as the recovery matures. No business cycle ever repeats itself exactly, and the leads and lags between the peaks and troughs of the various financial markets differ from cycle to cycle. In spite of this drawback, the concept of the chronological development ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required