1.主题
Intermarket Analysis
http://stockcharts.com/school/doku.php?id=chart_school:overview:intermarket_analysis
Sector Rotation Analysis
http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:sector_rotation_analysis

2.摘要&点评
Intermarket analysis is a branch of technical analysis that examines the correlations between four major asset classes: stocks, bonds, commodities, and currencies. Knowing these relationships can help chartists determine the stage of the investing cycle, select the best sectors and avoid the worst performing sectors. ==市场间分析的定义与价值，指明四大资产类别的正负相关关系是投资选择品种的理论基石。

Sector Rotation Analysis attempts to link current strengths and weaknesses in the stock market with the general business cycle based on the relative performance of the nine S&P Sector SPDR ETFs. ==板块轮动分析的定义，指明商业周期的波动是板块强弱轮动的根源，这可以用相关板块指数（or行业基金）来判定。

Staples/Discretionary Ratio
Chartists can also compare the performance of the consumer discretionary sector to the consumer staples sector for clues on the economy. Stocks in the consumer discretionary sector represent products that are optional. These industry groups include apparel retailers and producers, shoe retailers and producers, restaurants and autos. Stocks in the consumer staples sector represent products that are necessary, such as soap, toothpaste, groceries, beverages, and medicine. The consumer discretionary sector tends to outperform when the economy is buoyant and growing. This sector underperforms when the economy is struggling or contracting.==必需品/非必需品指数，与经济发展同方向变动；

3.心得感悟
下面是总结的四大投资品种的联动关系图 (附后）：



Staples/Discretionary Ratio这种比较方法将两个变量用除数的方法合二为一，体现了财务比率分析的精髓：化繁为简，相对强弱。在技术分析中双线并用也体现了相对变化率的对比，大大降低了叠加看图比较的主观错误率。

板块轮动的根源在于不同行业的商业周期不同，都有个生-长-化-藏的正弦曲线，彼此叠加，便有了依次登场与次第谢幕的轮动。

4.5时间统计
昨日阅读5小时，累计85小

附：总结图

昨日阅读1小时，累计阅读13小时

昨日阅读1小时，累计阅读13小时

昨日阅读1小时，累计阅读17小时

昨日阅读2小时，累计阅读10小时