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Jason Meshnick, CMT

Jason Meshnick, CMT

Jason Meshnick, CMT, is the Director of Product Management at Markit Digital, a division of IHS Markit. There, he creates well-known market analytics including the CNN Business Fear & Greed Index. His past career included work as a principal trader, market maker, and hedger. He was once an active participant in Sports Car Club of America racing but spends more time these days on two wheels, racing bicycles in his hometown of Boulder, Colorado.

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            [post_content] => We are still talking about trade battles with China and an arguably inverted yield curve. Yes, there are other perennial thorns in the paw (Iran and North Korea) but they don’t have much market moving history. As June ended, we got a trade battle truce and the stock market soared. Imagine what will happen if something actually gets done!

I still have a problem with calling the yield curve inverted, as most of it is upward sloping. Only the three-month bill is out of whack as I write this on July 1 and that is rather tied to the Fed. Will they cut, or won’t they? Before the trade truce, fed funds trading had a rate cut for a certainty for this month. Now? Maybe not so certain.

What I can see that is problematic is that the entire curve shifted lower compared to a month ago. And a quick scan of some global debt shows a lot of fractional, and even negative, benchmark yields. All that cannot be good.

Yet gold is backing down to test its breakout. Again, I am writing on July 1 so you all will know how that went.

Bitcoin. Again. Technical analysts’ paradise, investors’ nightmare. When the prices for retro Air Jordans on the StockX sneaker exchange are more stable than the “currency of the future,” I like to watch from afar. The lyrics of Bob Dylan dance in my head – “When will they ever learn? When will they ev-er learn?”

This month, we have an interesting white paper excerpt from TrendSpider about their new raindrop charts. It attempts to give the TA a feeling for how the day or hour developed, similar to market profile, although chartable like candles. However, volume is incorporated as in a VWAP.

This month’s member interview is Les Williams, CMT, who has been active in the association for many years and in many roles. My own CMT certificate was signed by him when he was the Chair of the Admissions committee.

And the Millers are back with the fourth and final installment of their series on copyrights. Again, this is an important topic for anyone who publishes books, newsletters and even blogs.

We've got three Chapter speaker reviews from Atlanta, Denver and Minnesota. Our regular association member news. And a little career advice for newbies urging everyone to write, write, write, no matter how green you may be.

Michael Kahn, CMT
Editor
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Letter from the Editor

We’re featuring a couple longer articles this month, which we think fit well in our newsletter. George Rahal takes a detailed look at quantifying potential rewards relative to risk, an important trading consideration. His contribution is well written and understandable to the novice trading system developer while offering new insights to veteran programmers. Andy Ratkai, CFA, recently prepared a report for his clients that brought together several interesting macro insights. In a way, he ties wave analysis into behavioral finance and raises a number of thought-provoking ideas. Buff Dormeier, CMT, continues to share high quality research on methods for applying volume to market analysis. He recently released a book which adds to the Body of Knowledge of Technical Analysis while offering actionable guidance for traders. It’s also that rare book which is interesting and a fun read. Although we never make guarantees in our profession, I am confident that I could guarantee everyone will learn something form this book as Buff combines historical stories with new techniques. Next month, many members will gather at the Annual Symposium in New York. This event is always well-attended and highly educational. It’s also an opportunity to meet other members, and I hope to meet many of you so that I can learn what you expect from your newsletter. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, April 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-april-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-11 17:26:42 [post_modified_gmt] => 2020-03-11 21:26:42 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47256 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 411165 [post_id] => 47256 [meta_key] => newsletter_content_4_contributor [meta_value] => a:2:{i:0;s:5:"21510";i:1;s:5:"43131";} ) [3] => stdClass Object ( [ID] => 52075 [post_author] => 2 [post_date] => 2006-05-15 12:00:13 [post_date_gmt] => 2006-05-15 16:00:13 [post_content] =>

From the Editor’s Desk

I am honored that Phil Roth, the new President of the MTA, accepted my offer to volunteer as interim editor of Technically Speaking. Carrying on the tradition of delivering a high quality newsletter each month is quite a challenge. My immediate predecessor, John Kosar, certainly set a high standard, and he followed in the footsteps of those before him, including Michael Kahn and Anthony Dwyer. Only with your help and contributions can I begin to approach the level of publication they attained month after month. In each issue, you’ll learn about the latest happenings within the MTA. And, while news from our organization is nice to read, I always enjoy the technical analysis articles the most. So, we need your analysis and research to continue delivering trading ideas and market insights. As you may remember, I will never quit asking for your input to make your newsletter the best it can be. Over the next several months, this newsletter will include more discussion from local MTA Chapters including recaps of speaker presentations, and profiles of the Chapters and how they reach MTA constituents and the investment community. In this issue, Garry Rissman expertly summarizes the most recent presentation at the New York Chapter’s monthly meetings. Meanwhile, the Rocky Mountain Chapter is getting back into the swing of things, and chapter member Jason Meshnick offers some timely analysis of the tobacco sector. Over the next few months, we’ll get an opportunity to hear from every MTA Chapter in the country. (That’s a hint that I’d like your input.) I hope you enjoy the newsletter, and I look forward to your comments. Mike Carr, CMT Editor [post_title] => Technically Speaking, May, 2006 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-may-2006 [to_ping] => [pinged] => [post_modified] => 2020-08-05 14:55:10 [post_modified_gmt] => 2020-08-05 18:55:10 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=52075 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 535508 [post_id] => 52075 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:5:"21510";} ) )

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