Technically Speaking, April 2019

Thanks to the constraints of newsletter publishing and the lack of time travel resources available, this edition of Technically Speaking was put to bed before the festivities of the 46th Annual Symposium, earlier this month. While we could not magically forecast what the speakers would say, rest assured we will have plenty of information and reviews in the next edition. If you haven’t taken the post-Symposium survey yet, you can do that here.

The funny thing about time is that this time is never different. While we usually apply that to analysis and the behavior of crowds, we are still applying it to the news of the day. Brexit was supposed to happen March 29, but it was delayed and still they argue over what it will look like. Trade with China is still up in the air. The Mueller report is finally out, and while we don’t know all the details inside, everyone still clings to their previous views.

What else is not different? Headlines! The three-month Treasury yield ticked above the 10-year yield and suddenly the media was in a panic over the curve inversion. Funny, the 2-year is still below the 10-year and that seems more important to me, especially now that the Fed said it’s done raising rates for now.

All of that hides the fact that the domestic stock market continued to claw its way back towards last year’s highs. That’s pretty good for a geriatric bull market, yes? If you want to argue whether the bull started in 2008 or 2015 or some resistance breakout, be my guest. We don’t get paid to label things, only to make money.

Vincent Randazzo, CMT, from Lowry’s returns with another article and one indication why the current rally is not done yet.

And on a more mundane, although really important, topic, George Schade, CMT, introduced us to publishing and copyright specialists Joyce and Daniel Miller. The Millers offer part one in a series of articles walking us through the details of staying on the right side of the law. Whether you write books, newsletters or just post to your blog, this is important stuff to know.

I’ve found another of my vintage articles, explaining how to be a good interviewee on financial TV. This is a loose part 2 to last month’s article talking about dealing with the media. If you want to get invited back for another round of talks, you need to know this stuff.

And this month’s member interview is with Richard Dickson, also from Lowry’s. One more in a long, long, long list of professionals who started with the analysis herd and then saw the light that is technical analysis.

We also have a brief recap of those who received Association honors at the Symposium. They are listed within. And finally, we’ll top this edition off with the usual news about the goings on around the Association.

What's Inside...

President's Letter: Making it to Your “Final Four” – Be A Complete Trader/Investor with a Robust Skill Set

As I watch the NCAA March Madness Basketball Tournament, I’m struck by the composition of the Final Four teams.  They...

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Powerful Short Duration Expansions in Lowry’s Short-Term Index

Lowry’s Short-Term Index is our proprietary short-term measure of investors’ demand for equities. Typically this indicator oscillates between 60 and...

Read More

46th Annual Symposium Honorees

We would like to acknowledge once again the award winners at this this year’s gathering:

Charles H. Dow Award to...

Read More

Copyright Basics, Part 1

Both in my writing projects and with the Educational Foundation’s Library, I have come across the importance of...

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Member Interview: Richard Dickson

What do you do professionally?

I am currently head analyst at Lowry Research, the oldest continually operating technical research company...

Read More

How to be a Good Interviewee

This is the second part of a loose series on how to write for and deal with the media. It...

Read More

Mumbai Chapter Update: Sports in Technical Analysis

Some of our most enduring relationships too are built on the sports field, and some of our fondest memories are...

Read More

Minnesota Chapter Meeting Recap

Twenty technicians met at the Rock Bottom Restaurant and Brewery to hear Kenneth Tower, CMT, from Quantitative Analysis Service, Inc....

Read More

Membership News

Members on the Move

The CMT Association would like to congratulate the following members on their new positions: 

  • John...
Read More

President's Letter: Making it to Your “Final Four” – Be A Complete Trader/Investor with a Robust Skill Set

As I watch the NCAA March Madness Basketball Tournament, I’m struck by the composition of the Final Four teams.  They are solid TEAMS!

They are not just teams where ONE superstar is carrying everyone else. That only goes so far.

Teams are so ultra-competitive today – even if a team has a dominating player (i.e., Zion Williamson for Duke) – they can still lose...

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)

Scott G. Richter, CMT, CFA, CHP

Scott Richter, CMT, CFA, CHP is a senior portfolio manager for Westfield, which manages over $4B in AUM.  He is the lead portfolio manager for alternative assets and is also responsible for investments in the energy and utility sectors.  He was formerly...

Powerful Short Duration Expansions in Lowry’s Short-Term Index

Lowry’s Short-Term Index is our proprietary short-term measure of investors’ demand for equities. Typically this indicator oscillates between 60 and the low 90s. While readings of 60 or below are historically considered oversold, the gauge is unbounded to the upside, but has reached above 110 only on rare occasions. The recent explosion in our Short-Term index – from 59 on December 24th, 2018 to...

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)

Vincent M. Randazzo, CMT

Vincent Randazzo, is the Head of Technical Research at CFRA and Chief Market Strategist at Lowry Research, a CFRA business. Vincent produces written and recorded stock market research based on Lowry’s proprietary, statistically driven measures of equity market demand/supply and breadth. Prior...

46th Annual Symposium Honorees

We would like to acknowledge once again the award winners at this this year’s gathering:

Charles H. Dow Award to Christopher Diodato, CMT, CFA, for his paper Making the Most of Panic – Exploring the Value Of Combining Price & Supply/Demand Indicators.  The paper has been recognized for its holistic approach to combining indicators and time frames to identify periods of market panic.

Service...

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)

Michael Kahn, CMT

Michael Kahn, who holds a Chartered Market Technician (CMT) designation, is a seasoned financial services strategist, analyst, columnist, educator and speaker.  Michael has been working with charts and technical analysis since 1986. He is the author of three books on technical analysis...

Member Interview: Richard Dickson

What do you do professionally?

I am currently head analyst at Lowry Research, the oldest continually operating technical research company in the U.S.

How did you get there?

After serving in the U.S. Air Force and a few years in graduate school, I started working as a broker in 1979 with Thomson McKinnon Securities in Richmond, Va. During my first year I decided to...

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)

Richard A. Dickson

Richard A. Dickson, former Senior Market Strategist, Senior VP and market commentator for Lowry Research, was a technical market analyst for more than 33 years. His analysis emphasized longer-term market trends and prioritized the identification of major changes in market leadership. Prior...

How to be a Good Interviewee

This is the second part of a loose series on how to write for and deal with the media. It was adapted from its previous appearance in Technically Speaking many years ago.

As technical analysts watching financial business news on television, we might expect to find in-depth analysis presented on the air.  After all, when we tune into a program that consists of ingredients...

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)

Michael Kahn, CMT

Michael Kahn, who holds a Chartered Market Technician (CMT) designation, is a seasoned financial services strategist, analyst, columnist, educator and speaker.  Michael has been working with charts and technical analysis since 1986. He is the author of three books on technical analysis...

Mumbai Chapter Update: Sports in Technical Analysis

Some of our most enduring relationships too are built on the sports field, and some of our fondest memories are from our times at play. This is what inspired the Mumbai Chapter of the CMT Association to adopt “Sports” as a theme for the first quarter of 2019. The chapter organized two initiatives.

The February Chapter Meeting: Sports in Technical Analysis
The Relevance:...

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)

Joel Pannikot

Joel Pannikot (pronounced as Punny-Quote) is the Managing Director of Chartered Market Technician Private Limited and serves as the Head of the Asia-Pacific region for the CMT Association. In this role, he is committed to advancing the field of technical analysis through...

Minnesota Chapter Meeting Recap

Twenty technicians met at the Rock Bottom Restaurant and Brewery to hear Kenneth Tower, CMT, from Quantitative Analysis Service, Inc. speak on March 19, 2019. The title for the presentation was Reminiscences of a Technical Analyst.

This is just a quick bullet point summary of the presentation.

Ken’s preferred method of analysis incorporates: 

  • Weekly price charts with a 40-week moving average and 52-week...
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)

Kyle Lottman, CMT, CFA, CPA

Kyle Lottman, Wealth Management Advisor at Elevate Capital Advisors. Prior to joining Elevate, Mr. Lottman led a successful analyst career spanning nearly a decade in both equity and fixed income markets. During this time, he obtained the Chartered Financial Analyst® designation; regarded...

Membership News

Members on the Move

The CMT Association would like to congratulate the following members on their new positions: 

  • John Parmigiani, CMT, Small Firm Representative on the National Adjudicatory Council at FINRA
  • Benny Ng, CPA, CA, CMT, Senior Manager at KDB Bank
  • David Keller, CMT, Senior Technical Analyst at StockCharts.com, Inc.
  • CA Mukesh Baheti, SME at HSBC Securities Services

CMT News

On the...

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)

Marie Penza

Marie Penza serves as the Director of Member Services for the CMT Association.