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Paul Ciana, CMT

Paul Ciana, CMT

Paul Ciana, is Bank of America’s Chief Global FICC Technical Strategist and Director of Research.
Paul believes the best technical strategy is a diversified technical strategy, so he aligns proprietary and familiar technical theory to make the best call. He publishes his views on Rates, FX, Commodities and emerging markets in the Technical Advantage report and manages his open trades in the Chart Alpha report. He publishes a popular primer series called Technicals Explained and Quantifying Technicals. He contributes regularly to cross discipline reports such as Global FX Weekly, Global Rates Weekly and Global Liquid Markets Weekly, too. Paul is ranked among the top Technical Analysts in the All-American Fixed-Income Institutional Investor survey.  Prior to Bank of America, Paul he led the technical analysis specialists at Bloomberg LP.

Ciana authored the book New Frontiers in Technical Analysis, October 2011, John Wiley & Sons. He has been a speaker and panelist at industry events including the CFA, CMT Association, IFTA, NYSSA and CAIA, and his work is regularly quoted in many mainstream media channels.

Paul earned his CMT designation in 2006 and was the president of the New York CMT Chapter and an Instructor for a CMT preparation course.  Paul received his MBA in Marketing and Finance from Fordham University and a Bachelor of Science in Finance & Economics(Magna Cum Laude) from the State University of New York at Albany.

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LETTER FROM THE EDITOR

Technical analysis has always been focused on the application of knowledge. In the early editions of Edwards and Magee’s Technical Analysis of Stock Trends, they focused on how to trade chart patterns. But these pioneers of the field also included a theory explaining why the pattern should work.  While applying the ideas of technical analysis is still the important consideration to practitioners, many academic researchers are working to uncover why the techniques work. In this month’s newsletter, we provide articles highlighting both the application of technical analysis and the research that technical analysis is stimulating in the academic community.  This month’s newsletter also includes a summary of Tom Dorsey’s presentation at the Annual Symposium. The Symposium truly does provide a year’s worth of ideas and we will be presenting summaries of those ideas in the months ahead. Videos of this year’s presentations and the previous four years are available at http://symposium.mta.org/ and can be viewed at anytime. As always, we welcome your feedback. Please let us know what you think of Technically Speaking, the MTA magazine, by emailing us at editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, June 2015 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-june-2015 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:28:49 [post_modified_gmt] => 2020-08-03 15:28:49 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44215 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 359069 [post_id] => 44215 [meta_key] => newsletter_content_6_contributor [meta_value] => a:1:{i:0;s:5:"36878";} ) [1] => stdClass Object ( [ID] => 44322 [post_author] => 35924 [post_date] => 2015-04-15 12:00:33 [post_date_gmt] => 2015-04-15 16:00:33 [post_content] =>

LETTER FROM THE EDITOR

Once a year, the MTA Symposium assembles a lineup of great speakers yet some of the best technicians attending are in the audience. Symposiums have long been one of the most valuable of MTA membership and now technology makes it possible to extend that benefit to all members. Videos of the presentations will soon be available on line. Discussion forums on the MTA web site allow members to exchange ideas about the presentations or any other topic of interest.  In this month’s Technically Speaking we try to start the conversation about speakers with an article featuring the wisdom of a few presenters. This month’s newsletter also highlights the fact that chapter meetings offer another way for members to hear from great speakers. Leslie Jouflas, CMT, shares insights from Market Wizard Ed Seykota’s recent presentation in Washington. We also have new ideas about how to apply the principles of technical analysis in this issue and we’d like to hear from you about how you apply those principles. If you have ideas for articles in upcoming issues of the newsletter, please send me a note at editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, April 2015 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-april-2015 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:31:40 [post_modified_gmt] => 2020-08-03 15:31:40 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44322 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 361955 [post_id] => 44322 [meta_key] => newsletter_content_3_contributor [meta_value] => a:1:{i:0;s:5:"36878";} ) [2] => stdClass Object ( [ID] => 44513 [post_author] => 35924 [post_date] => 2015-01-15 12:00:23 [post_date_gmt] => 2015-01-15 17:00:23 [post_content] =>

LETTER FROM THE EDITOR

Many publications are dedicating January issues to a look at the year that was or a forecast for the year that is to be. We decided to ignore time and in this issue of Technically Speaking we review timeless techniques. Gaps, for example, have been a part of charts for hundreds of years and will always be visible on charts. This month, we review the Dow Award-winning paper written by Julie R. Dahlquist, PH.D., CMT and Richard J. Bauer, JR., PH.D., that explains how to trade gaps. Relative strength (RS) is also a technique that has worked for decades and is likely to continue providing useful trade signals in the future. John Lewis, CMT, from Dorsey Wright & Associates, expands on how RS can be applied to generate profits. Looking a little bit ahead, Tom Dorsey, co-founder of Dorsey Wright & Associates, will have more insights into successful strategies at the MTA Symposium in March. Bloomberg recently highlighted a useful application of the relative strength index (RSI) in Bloomberg Briefs and a summary of that information is presented here. Andrew Thrasher, CMT, then explains how copper has been replaced by semis in the modern economy as a stock market indicator. While trend lines have been useful in the past and will be useful in the future, Greg Schnell, CMT, demonstrates that they can be applied incorrectly. In an article that does provide a specific forecast for 2015, Mark Ungewitter uses timeless techniques like the Dow/Gold ratio, cycles, market breadth and the Coppock Curve to look at the stock market. Although we try to provide articles that will interest everyone, if we aren’t featuring a topic you find interesting, please let us know what you’d like to see more of by emailing us at editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, January 2015 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-january-2015 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:30:28 [post_modified_gmt] => 2020-08-03 15:30:28 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44513 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 365986 [post_id] => 44513 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:5:"36878";} ) [3] => stdClass Object ( [ID] => 44625 [post_author] => 35924 [post_date] => 2014-11-15 12:00:12 [post_date_gmt] => 2014-11-15 17:00:12 [post_content] =>

Letter From The Editor 

Many readers already know that Fred Dickson, CMT, passed away at the end of October.  In this issue, we look at an example of his work. It is an amazing example of clarity and focus and provides an example of how to turn ideas into actions.  Fred dedicated much of his life to helping others turn ideas into actions. As with most great individuals, outstanding professional accomplishments are just one small part of their life.  Gail Dudack, CMT, notes, "Fred was probably the smartest and most gentile person i have known.  And while he had a great reputation on Wall Street and CNBC, his true passion was counseling people who needed help and he did this for decades as deacon of his church.  He was always there if you needed him.  But his greatest passion was his harem: wife Linda, daughters Kathy and Barbara." Fred also played a significant role in turning the ideas of technical analysis into a respected profession.  It is impossible to overstate the impact Fred had on the MTA.  He became a member in September 1978 and served as president from 1983 tom 1984.  Fred earned his CMT designation in April 1991. Ralph Acampora, CMT, credits Fred with kick starting the CMT program.  Ralph noted that Fred personally wrote the first 300 questions for the exam.  Ralph also recalled that there was a period of time when the MTA Library was homeless and Fred stepped in to keep the library functioning.  Along with his wife, Linda, Fred moved the books to his garage and made them available to members while the MTA looked for a new home. In all likelihood, Fred would prefer that we take inspiration from his life rather than isolated memories.  Even if never had the opportunity to meet Fred, consider Gail Dudack's comments as a summary of his personality and consider Ralph's recollections as a summary of his commitment to his profession.  We can all find inspiration in his life and acting on those inspirations would be the legacy Fred would desire and deserves. Sincerely, Michael Carr [post_title] => Technically Speaking, November 2014 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2014 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:30:54 [post_modified_gmt] => 2020-08-03 15:30:54 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44625 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 368120 [post_id] => 44625 [meta_key] => newsletter_content_4_contributor [meta_value] => a:1:{i:0;s:5:"36878";} ) [4] => stdClass Object ( [ID] => 44747 [post_author] => 35924 [post_date] => 2014-09-15 12:00:58 [post_date_gmt] => 2014-09-15 16:00:58 [post_content] =>

LETTER FROM THE EDITOR

This month we are including a number of charts. As technicians, it is a relatively simple matter to generate charts. The challenge is to create meaningful charts. We think the authors of the charts in this month’s newsletter accomplished that. Each of the charts presented in this issue can be studied to develop new insights into the markets. Many members enjoy obtaining information on career opportunities. We try to include that information in the newsletter when we can and will be including more information in the next few months about the QGLDX Trading Strategy Contest. This contest has a rigid, quantified process that allows money managers to demonstrate their skill and to obtain a oneyear exclusive contract to trade at least $1 million in assets. We also have a news release from a company that has created a platform designed to help financial services firms launch new technology applications. The cost and time dedicated to software development can be daunting to professionals focused on the financial markets. New innovations in technology are creating new opportunities for professionals to expand their product offerings. If you are aware of similar opportunities, please let us know by sending an email to editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, September 2014 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-september-2014 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:31:12 [post_modified_gmt] => 2020-08-03 15:31:12 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44747 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 370669 [post_id] => 44747 [meta_key] => newsletter_content_0_contributor [meta_value] => a:1:{i:0;s:5:"36878";} ) [5] => stdClass Object ( [ID] => 46322 [post_author] => 2 [post_date] => 2012-11-15 12:00:35 [post_date_gmt] => 2012-11-15 17:00:35 [post_content] =>

LETTER FROM THE EDITOR

This edition of Technically Speaking consists almost entirely of ideas discussed in Seattle at the recent MTA Regional Seminar. I did not attend the Seminar hoping to find these ideas but all MTA events result in a large number of ideas for me.  The speakers are always thought-provoking and discussions with participants who travel to the events are equally inspiring. In the end, I always find more ideas than I have time to test or write about. Meetings of the MTA have been serving this purpose for years. As the number of members increased, the MTA adopted technology to bring the benefits of meetings to members around the world. Blogs and discussions forums on the MTA web site are offering me an increasing number of trading ideas and increasing networking opportunities. The MTA will certainly keep improving the opportunities for members to interact, but there is no way anyone can improve the quality of the interactions among market professionals that have defined the organization for nearly 40 years. I encourage everyone to take advantage of the opportunity to gain insight, discover new techniques and celebrate with the global technical community at the 2013 MTA Annual Symposium in New York on April 4 &5, 2013. For complete information please visit https://symposium.mta.org. Please send any comments you have about our newsletter to editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, November 2012 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2012 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:34:38 [post_modified_gmt] => 2020-08-03 15:34:38 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=46322 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 396664 [post_id] => 46322 [meta_key] => newsletter_content_3_contributor [meta_value] => a:2:{i:0;s:5:"36878";i:1;s:5:"43131";} ) [6] => stdClass Object ( [ID] => 46534 [post_author] => 2 [post_date] => 2012-06-15 12:00:18 [post_date_gmt] => 2012-06-15 16:00:18 [post_content] =>

LETTER FROM THE EDITOR

The Market Technicians Association has always been at the forefront of technical analysis and in this issue we demonstrate some of the ways the organization is doing that. We provide summaries of a few of the presentations made at the Annual Symposium in May which included thought provoking and practical ideas. More summaries will be in next month’s issue. We also offer a review of a book by Paul Ciana, CMT. New Frontiers in Technical Analysis includes some original research from Paul and features the work of several other technicians, including some members. This book adds to the Body of Knowledge of technical analysis with the new techniques that are presented and for those without access to a Bloomberg terminal it delivers details on what the most commonly used features of that system are. Last month, while acknowledging those recognized by the Awards Committee, I inadvertently overstated the role that George Lane had in the development of the stochastics.  George Schade, Jr., CMT, provides corrected information in a Letter to the Editor that is included in this month’s issue. George’s work is another example of the leadership that members have in the field. He has studied in depth the history of technical analysis and is an invaluable resource to the organization and this newsletter. Please let us know what you think about Technically Speaking by emailing us at editor@mta.org. Michael Carr [post_title] => Technically Speaking, June 2012 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-june-2012 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:35:07 [post_modified_gmt] => 2020-08-03 15:35:07 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=46534 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 399096 [post_id] => 46534 [meta_key] => newsletter_content_5_contributor [meta_value] => a:2:{i:0;s:5:"36878";i:1;s:4:"7251";} ) )

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