From the Editor’s Desk
On the cover of this month’s issue, we pay our respects to Jerry Favors. Mr. Favors was an early icon of technical analysis that came onto the financial scene in the mid-1980s. He was known for his respect for and deep knowledge of the works of the old masters of technical analysis like Edson Gould and George Lindsay. His work was widely known and highly respected throughout the financial world. Young technicians should consider picking up where Mr. Favors left off by exploring the works of the old masters that he loved so much.
Inside, we present a new addition to Technically Speaking. Meet A CMT. This monthly column interviews a relatively new, up-and-coming CMT for the purpose of introducing him or her to the Membership. Kudos to Contributing Editor Garry Rissman for a job well done on this inaugural column. Also inside is another new addition to TS, our Letters To The Editor column, and also an update on the MTA’s Educational Seminar in New York City this May.
Finally, I’d like to announce that this will be my last issue as the Editor of Technically Speaking. Our Nominating Committee has decided to go in a different direction, with a new slate of incoming officers for the upcoming MTA elections in June. As an outgoing Board member, I believe it is in the best interests of the Association to turn the reins over to the incoming Board as soon as possible so they can get off to a running start with their own agenda and initiatives. I believe an integral part of that should be installing a new Editor, since Technically Speaking is the voice of the MTA and a means for the incoming Board to inform us of its new direction and to support its new policies. As outgoing Vice President, I tried to use my position as Editor to do that very thing, and the new Board should have the opportunity to do so as well.
Please take the time to carefully read the columns written by Jordan Kotick and John Kirby, our outgoing President and Executive Director. Jordan’s column gives a detailed overview of the changes that took place within your MTA during the past few years, and John provides us with a detailed look at the MTA’s current financial condition. I am very proud to have been a part of this Board which made a lot of changes that, although unpopular in some circles, turned the MTA from a 25-year old private club to a world-recognized professional society who’s CMT I and II tests are now accredited as a surrogate for the Series 86 exams. Special thanks to my Board colleagues and friends Jordan Kotick, Barry Sine and John Kirby who made it all happen, and best of luck to the incoming Board members and to the MTA.
John Kosar, CMT
Editor
What's Inside...
From the Executive Director Best of Times
by John R. KirbyFor me, the last year has been the very best of times for the MTA. The SROs made the CMT equal to the CFA. With netFORUM, the MTA now has a world class technology platform used by 10 million...
From the President’s Desk Still Forward
by Jordan Kotick, CMTThis will be my last article as MTA President. While our elections are not until June, I hope to turn the Board over to the new slate well ahead of that. The reason is simple: there is much that...

In Memorium Jerry Favors 1953-2006
by Jerry Favors & John Kosar, CMTIn late-February, technical analysis and the financial community lost an icon and one of its best-known trail blazers of the past thirty years. Jerry Favors, editor of The Jerry Favors Analysis,...
Meet A CMT
by Garry RissmanEditor’s Note: This month, we would like to introduce a new column to Technically Speaking entitled Meet A CMT. In this column, one of our Contributing Editors interviews a relatively new,...
Letter To the Editor
by John R. McGinley, CMTMy compliments on an excellent newsletter issue (Feb 2005), containing a most appropriate tribute to my friend and mentor, Arthur Merrill. As the first to actually TEST an indicator and as the first...
For me, the last year has been the very best of times for the MTA. The SROs made the CMT equal to the CFA. With netFORUM, the MTA now has a world class technology platform used by 10 million association members around the world. With Thomson-Prometric, the MTA now has a world class computerized exam system of the highest quality that is also used by NASD. The CMT Institute provided top quality online education to 87 CMT applicants in 30 countries. The MTA seminars served a larger proportion of the membership at lower cost than ever in the history of the organization. The MTA staff provided more services to a larger membership at a cost lower than the previous year. Since July of 2005, the MTA has added 600 new members and 80 new CMTs (total 383) to the membership. As of 3-31-06 there are 2596 members including 2058 affiliates, 497 Members, 11 honorary Members, 8
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Contributor(s)

John R. Kirby
Bio
This will be my last article as MTA President. While our elections are not until June, I hope to turn the Board over to the new slate well ahead of that. The reason is simple: there is much that needs to be done over the next few months. To be fair to the new officers, I/we need to give them as much of a head start as possible so they can put their stamp on things and delegate as they deem appropriate. Traditionally, Presidents do a bit of an overview before they turn over the keys so I thought I would keep up with this tradition. Essentially, I would argue that this Board, over the last 18 months-two years, accomplished as much if not more than arguably any Board in the history of our organization. During this time, our aggressive agenda has seen that monumental decision from the SROs (NYSE, NASD and
To view this content you must be an active member of the CMT Association.
Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.
Contributor(s)

Jordan Kotick, CMT
Bio Coming

In late-February, technical analysis and the financial community lost an icon and one of its best-known trail blazers of the past thirty years. Jerry Favors, editor of The Jerry Favors Analysis, passed away peacefully at home in his sleep on February 28th. He was 52 years old. When I entered the business in the 1980s, Jerry Favors was one of about a handful of technicians that were very prominent at the time. Hearing technical analysts like Mr. Favors speak on financial television (on FNN) and reading about them in the financial press gave me someone to try to model myself after, and a career to chase. I never knew Mr. Favors, but I knew enough about him to know it was important for the MTA and Technically Speaking to recognize his passing and honor his work. Jerry Favors was a person that young technicians coming up in the business should know about.
To view this content you must be an active member of the CMT Association.
Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.
Contributor(s)

Jerry Favors
A well-known and highly-respected figure in the market-timing community, Jerry Favors worked professionally in the financial world since 1976, when he left Ohio State University two months before graduation to accept his first job in the brokerage business. He published his own...

John Kosar, CMT
John Kosar CMT is the Chief Market Strategist of Asbury Research, a firm he launched in 2005. John has more than 40 years of experience studying, analyzing, and forecasting global financial markets. Asbury Research provides data-driven technical and quantitative...
Editor’s Note: This month, we would like to introduce a new column to Technically Speaking entitled Meet A CMT. In this column, one of our Contributing Editors interviews a relatively new, up-and-coming Chartered Market Technician to introduce him to our Membership and to the technical analysis community. In our inaugural column, Contributing Editor Garry Rissman interviews MacNeil Curry, CMT from Barclay’s Capital. Thank you, Garry and MacNeil. p Contributing Editor: It is my proud honor to introduce the first speaker in a new series dedicated to interviewing less well-known CMT’s working in the field. Please tell us about yourself, sir. MacNeil Curry: When I first started in college I was working for JP Morgan in the summers. I started to become very interested in the markets at the University of Pennsylvania in 1990 and 1991 when I was a freshman and a sophomore. U Penn is one of the few places as an
To view this content you must be an active member of the CMT Association.
Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.
Contributor(s)

Garry Rissman
Bio
My compliments on an excellent newsletter issue (Feb 2005), containing a most appropriate tribute to my friend and mentor, Arthur Merrill. As the first to actually TEST an indicator and as the first recipient of a CMT, he richly deserved it. We all miss him. I just read George Shade’s excellent article on Garfield Drew in that issue. It contains an inadvertent error, one not the case when Drew did his work: the facts are that not been a single odd lot transaction done by the public has been reported publicly since the 70’s! While it was a great indicator years ago – and for good reasons – it no longer is. Arthur Merrill and I reported this at the time, but it seems to have been lost in the shuffle. The reason is simple: would you believe that in creating the form specialists use to report transactions to the exchange, they
To view this content you must be an active member of the CMT Association.
Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.
Contributor(s)

John R. McGinley, CMT
John R. McGinley, CMT is Editor of TECHNICAL TRENDS, the Indicator Accuracy Service. For more information, please contact John at jmcgoo@post.harvard.edu or
New Educational Content This Month
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September 13, 2023
Charting and Analysis in Today’s Equity Markets
Presenter(s): Anthony F. Esposito, CMT
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September 6, 2023
Market Trend Analysis
Presenter(s): Stephen W. Bigalow
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August 30, 2023
Two New Oscillators – Volume Zone and Price Zone
Presenter(s): David Steckler