Just four months after the winner of the 2015 Charles H. Dow Award was recognized it’s time to plan for the 2016 Award. This month we are announcing the deadlines for the Award. Although there are several months before papers are due, planning and writing the papers is a large undertaking. We hope many of you will begin that undertaking. This month’s newsletter also includes an admission by one of Wall Street’s most-respected strategists that technical analysis is an important component of his work. Byron Wien, a name familiar to many readers, credits technical analysis with turning his career around. We also have research on market liquidity, a growing concern especially in the fixed income markets. Liquidity is a major factor in supply and technical analysis is dedicated to the study of supply and demand. Changes in market structure could make price action more volatile. As this article highlights, we have already seen several liquidity-related market events and are likely to see more. The potential implications of liquidity changes are important to technicians and we hope you’ll find this research to be useful. Please let us know which areas of research interest you by emailing us at firstname.lastname@example.org. - Michael Carr, CMT
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