Market Technicians Association (CMT Association) Awards Respected Financial Experts

New York, NY April 27, 2012 – The Market Technicians Association, Inc., the leading organization for Technical Analysis professionals and the governing body for the Chartered Market Technician (CMT) designation, today announced the selection of six award winners.

The following individuals were selected for their life-long outstanding contribution to the development and widespread acceptance of technical analysis by institutional practitioners and individual investors.

  • CMT Association Annual Award recipients: Dr. Martin E. Zweig, Steven C. Leuthold and Ned Davis
  • Recognition Award recipient: Edward C. Johnson III
  • Service Award recipient: Marie Penza
  • Memorial Award recipient: George Lane

The Annual Award is issued to a person(s) who made an outstanding contribution to the field of technical analysis. Please see below for information about each of the 2012 award recipients.

Nominations to receive the 2013 Annual Award are currently being taken. Send your recommendations to our Annual Awards Committee Chairperson, John A. Bollinger, CFA, CMT at or you may reach him by phone at (310) 798-8855.

Dr. Martin Zweig
Dr. Martin Zweig brought respectability of Technical Analysis through his doctoral thesis on relative strength in the late 1960s.  This led to the formation of his own firm providing institutional technical analysis building off his pioneering working in use of relative strength for stock selection and investment timing.  The success of his work, and his entrepreneurial efforts led to the formation of Zweig Investment Advisors with a family of closed-end mutual funds.  Marty was a regular speaker at CMT Association Conferences in the 1970s and 1980s and lifted the visibility of the field to the world as a regular panelist on Lou Rukeyser’s Wall Street Week Show.  He was one of the first practitioners of technical analysis to validate his research with solid statistical evaluation and subject his work to the rigors of academic challenge and debate. His testing work set the rigorous standard that we now employ in evaluating papers for the Journal and the Charles Dow Award.

Mr. Stephen Leuthold
Steve Leuthold has been a stalwart of the CMT Association Organization nearly since its founding in the early 1970s.  He established his presence first at Piper Jaffray in Minneapolis as their chief technical analyst, then at this own firm and most recently with Weeden His contribution to the field centers on very long-term cyclical analysis (typically 50 years or more) of a wide variety of technical indicators of major indices, but of also sub-sectors and specific technical measures of investor sentiment.

His work is remains fresh, innovative and highly respected. Steve has demonstrated the value of the profession in the professional management of various funds over the last 20 years that validates the utility of technical research in the investment process, perhaps putting together the longest buyside performance benchmark of a manager using a suite of technical tools.  Steve has been a respected contributor to the financial media uplifting the reputation of the profession.  His contribution to the CMT Association via Committee Chairs including editing the CMT Association Journal for several years lifted the quality of that publication to new standards in which the entire profession can be proud.

Mr. Ned Davis
Ned Davis, founder and Chairman of Ned Davis Research, was one of the first and most respected Technical analysts publishing literally a library of indicators to primarily a huge institutional audience that had not been reached by wire house Technical research analysts.  Inventor of numerous indicators, Ned broadened the acceptance of technical analysis to a wide spectrum of institutional users through sound research, consistent high quality application and publication of his work for more than 40 years. Under his direction and with his encouragement, Ned Davis Research has become a wonderful training ground for quantitative technical analysts. Ned has been a tireless contributor to the profession and CMT Association through his participation as a speaker at many CMT Association programs and Conferences over a career that now spans nearly 40 years.

George Lane
George Lane developed the widely followed stochastics oscillator to address problems encountered when data was dropped from a series as you move forward in time. His double-smoothing process to normalize the data has been referenced by many different practitioners along the way. Mr. Lane focused on the commodities markets and traveled throughout the Midwest teaching his techniques, which require experience and judgment, to farmers.

Marie Penza
A longtime member of the CMT Association staff, Marie Penza has gone beyond professional service. As Director of Member Services the organization is fortunate to have a detail-oriented, gracious person as a first/on-going point of contact for its members. In addition, as support to various committees and groups within the organization, her patience & agility in making things happen are also appreciated.

Edward C. Johnson III (Ned)
A lawyer by trade, Edward C. Johnson III built Fidelity with the mindset that price action was predictable. As a result, the company has stressed the importance of technical analysis as part of the normal course of business consistently maintaining a highly regarded department dedicated to the practice.

The Market Technicians Association’s objective is to educate the investment community and CMT Association members in technical analysis. More than 4,500 analysts and related market professionals in over 85 countries are members of the CMT Association. The CMT Association is responsible for the creation, oversight, administration and regulation of the CMT designation. The CMT charter is the only technical analysis designation recognized by the Financial Industry Regulatory Authority (FINRA). It is also the only designation for technical analysts that qualifies as a “Series 86” exemption upon passing Levels I & II of the CMT exam.

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