public

Technically Speaking, April 2021

Spring has sprung in the northern climes, and as we start to return to more normal activities the stock market is still taking mighty gulps at the liquidity punchbowl provided by forever low interest rates and lots of government spending. How long can the market keep this up? That is for you and your charts to figure out. The real question, is how can we stay on top of things as they develop?

Last year, COVID stole our Annual Symposium but this year we are getting together virtually. Last autumn’s India Summit kicked things off, and at the end of this month, we will have the Americas Summit. I know it is short notice in this newsletter, but since it is online, there are no travel needs, hotels, cabs, or taking off from work. See the announcement below.

This month, we acknowledge this year’s Charles H. Dow Award winner Makenna Barbara with a brief summary of the paper and this month’s interview. We also look back in Association history to the first discussions on getting the CMT designation the respect it deserves and the Series 86 Exemption for technicians. This was a very big deal. CMT co-founder Ralph Acampora takes us back to those discussions in 2004.

We’ve also got the CMT Annual Meeting coming up with elections for new officers and Board members. Association President Scott Richter sets that up in his monthly letter, and the full meeting agenda is published later in this edition.

Don’t forget Association goings-on and this month’s podcast episode featuring Jeff DeGraaf.

Also, we still want your old photos of seminars, meetings and even the old favorite annual seminars at the beach. Got a book to recommend? A new charting software package? We could use a volunteer to write an occasional book or software review, too.

Until next month!

Michael Kahn, CMT

Editor

What's Inside...

President’s Letter

by Scott G. Richter, CMT, CFA, CHP

Elections Are Here…Get Ready to Vote! It’s that time of year again – time to cast your vote for the proposed slate of nominees that will serve on the CMT Board of Directors. You should have...

2021 Americas Summit

by Tyler Wood

Join the CMT Association community at the 2021 Americas Summit on April 29th & 30th! Featuring a slate of industry-leading analysts, the Americas Summit is uniquely adapted to a digital-first...

Annual Membership Meeting

by Robert Palladino, CMT

The Annual Membership Meeting of the CMT Association, Inc. is scheduled to take place on Tuesday, June 15, 2021. Online proxy voting for the annual meeting will open May 13, 2021 and run through June...

2021 Charles H. Dow Award Winner – Makenna Barbara

by Timothy Hayes, CMT

The CMT Association has awarded the 2021 Charles H. Dow Award to Makenna Barbara for The Efficacy of Modified Momentum Based Technical Indicators on U.S. Equities: A Study of Parabolic SAR. The...

Fill the Gap: The Official Podcast of the CMT Association

by Jeff deGraaf, CMT, CFA

Episode 4: Jeff DeGraaf – Streaming Now As the discipline of technical analysis has evolved, so have the practitioners. Episode #4 of Fill the Gap features one of Wall Street’s current icons of...

This Month in CMT History

by Ralph Acampora, CMT

The fight for recognition for the CMT designation may have been one of the biggest accomplishments of the CMT Association. The CMT is currently one of two designations recognized by FINRA for the...

Member Interview - Makenna Barbara

by Michael Kahn, CMT

In this month’s interview, we break protocol and speak with the Dow Award winner who is not yet a member of the Association. She assures us that she will be joining soon! Please tell us what you do...

Membership News

by Marie Penza

Members on the Move The CMT Association would like to congratulate the following members on their new positions: William Yii, CMT, Chief Investment Officer at Airo Malaysia James Chen, CMT, Vice...

New Educational Content This Month

Paul Winghart, Richard Ross, and Sam Stovall have all had their recent webcasts added to our Video Archives! Listen at your convenience.

President’s Letter

President’s Letter

Elections Are Here…Get Ready to Vote! It’s that time of year again – time to cast your vote for the proposed slate of nominees that will serve on the CMT Board of Directors. You should have received an email notifying you of the date and time of our upcoming Annual Meeting, as well as the proposed slate of candidates for Director At Large and Board Officers. Voting will begin on May 13th. Why should I care about who’s on the Board, you ask? Perhaps you have wondered, what’s so important about the Board? What does the Board even do??? First, a bit of history. In the early days, when we were known as the MTA, all of the operations of the Association were performed by volunteer board members. It made sense to run things lean, since we were small. As the CMT Program grew, and with it the number of members, it was

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 Richter, CFA, CMT, CHP

Scott G. Richter, CMT, CFA, CHP

Back to top
2021 Americas Summit

2021 Americas Summit

Join the CMT Association community at the 2021 Americas Summit on April 29th & 30th! Featuring a slate of industry-leading analysts, the Americas Summit is uniquely adapted to a digital-first experience. This event will take place fully online, covering four distinct themes over two days and featuring experts in each thematic topic presenting each day. The four themes will encompass US equity markets as well as key global indices, digital and fiat currencies, Treasury yields and rates as they impact other asset classes, and the Commodities space. Expect to leave with cutting edge tools, trading strategies and actionable insights to improve your investment decisions. Dates Thursday, April 29, 2021 Presentations this day will focus on Treasury Yields and rates as they impact other asset classes and on digital and fiat currencies. A key theme of these sessions will be to unpack historical sensitivity or resistance to inflationary forces. Friday, April 30, 2021 Presentations on this day

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)

Tyler Wood

Back to top
Annual Membership Meeting

Annual Membership Meeting

The Annual Membership Meeting of the CMT Association, Inc. is scheduled to take place on Tuesday, June 15, 2021. Online proxy voting for the annual meeting will open May 13, 2021 and run through June 13, 2021. You will receive an email invitation with detailed instructions for voting on May 13, 2021. The 2021 Annual Membership Meeting will be conducted entirely online; the link to register is included below. The Annual Meeting is open to all Members of the CMT Association, who are welcomed to attend via online webcast. Annual Meeting Details and Registration Date: June 15, 2021 Time: 8:30 AM EDT Location: Please register using the link below for 2021 CMT Association Annual Membership Meeting to be held electronically on June 15, 2021 at 8:30 AM EDT. Please contact Marie Penza, CMT Association Member Services Director, at 646-695-3008, or by email at marie@cmtassociation.org with questions. Agenda Order of Business Approval of the Minutes of the June 10, 2020

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)

Robert Palladino

Robert Palladino, CMT

Back to top
2021 Charles H. Dow Award Winner – Makenna Barbara

2021 Charles H. Dow Award Winner – Makenna Barbara

The CMT Association has awarded the 2021 Charles H. Dow Award to Makenna Barbara for The Efficacy of Modified Momentum Based Technical Indicators on U.S. Equities: A Study of Parabolic SAR. The judging committee selected her submission as the winning paper in recognizing comprehensive research and analysis in making modifications to an existing indicator and testing the performance. She has been awarded $5000 for winning the competition. The author’s paper extends the existing literature on momentum-based trading strategies by investigating the Parabolic Stop and Reverse (PSAR) indicator, designed to determine the direction of an asset’s momentum direction. Identifying indicator drawbacks in sideways markets, the paper introduces modifications designed to reduce false signals. The resulting new indicators are the Support PSAR, which provides signal confirmation, and the Decelerated PSAR, which slows the signal generation during trendless market periods. When testing the performance of the new strategies versus the S&P 500 and NASDAQ Composite,

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)

Timothy Hayes, CMT

Back to top
Fill the Gap: The Official Podcast of the CMT Association

Fill the Gap: The Official Podcast of the CMT Association

Episode 4: Jeff DeGraaf – Streaming Now As the discipline of technical analysis has evolved, so have the practitioners. Episode #4 of Fill the Gap features one of Wall Street’s current icons of market research – Jeff deGraaf, CMT, CFA, who is the founder and Chairman of Renaissance Macro Research LLC. In this interview, Jeff dives deep into the quantifiable data-driven approach he and the RenMac team leverage towards understanding markets. Jeff reveals some of the spurious pitfalls of data science, how RenMac separates signal from noise, and why their team always returns to price before making any investment recommendation. Jeff has been one of Wall Street’s most influential macro-based analysts over the last 20 years, consistently ranked by I.I. magazine since 2002, and a member of Institutional Investor’s exclusive Research Hall of Fame. Prior to founding RenMac, Jeff cut his teeth at Merrill Lynch in the 1990s, then Lehman Brothers for

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)

Jeff deGraaf, CMT, CFA

Back to top
This Month in CMT History

This Month in CMT History

The fight for recognition for the CMT designation may have been one of the biggest accomplishments of the CMT Association. The CMT is currently one of two designations recognized by FINRA for the series 86 exemption. Here is how that exemption all got started. Back in April 2004, I received an urgent call from David Krell, CMT, who told me that I had to respond immediately to the newly released Sabanes-Oxley law, which stated that all Wall Street analysts had to take two new tests: Series 86 and Series 87. Alternatively, they could have the equivalent of levels one and two of the CFA designation. When I returned from Minnesota, Dave and I planned our response. We decided that he would handle the bureaucratic side of things and I would cover all of the technical items. Dave got us an appointment with the head of the NYSE. At this very important meeting, we

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)

Ralph Acampora, CMT

Ralph Acampora, CMT

Back to top
Member Interview - Makenna Barbara

Member Interview - Makenna Barbara

In this month’s interview, we break protocol and speak with the Dow Award winner who is not yet a member of the Association. She assures us that she will be joining soon! Please tell us what you do professionally. I currently work as an Acquisitions Analyst for MDH Partners supporting both the Southeast and Southwest region. My day to day consists of modeling industrial real estate acquisitions utilizing both Excel and Argus. How did you get there? After earning my Masters in Banking and Finance from King’s College, London, I knew I wanted to get a job in finance, but I did not have much of a plan beyond that. My undergraduate degree was in environmental science and I thought all of my previous experience would be of little to no value; but that was a naïve view. I slowly came to realize that I had picked up some very useful skills along 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)

Michael Kahn, CMT

Back to top
Membership News

Membership News

Members on the Move The CMT Association would like to congratulate the following members on their new positions: William Yii, CMT, Chief Investment Officer at Airo Malaysia James Chen, CMT, Vice President, Head of Content Studio, U.S. Wealth Management at J.P. Morgan Daniel Russo, CMT, Portfolio Manager at Potomac Fund Management, Inc. The next time you login to the CMT website, please take a moment to update your profile including your address. If you need your company’s name updated, please send the information to admin@cmtassociaton.org. CMT One of the biggest problems that candidates encounter when taking a remote proctored exam are the firewalls and virus protections that have been installed on their computer, as these can prevent the exam from being downloaded. To prevent this problem from occurring on your test date, please be sure to read “Dealing with Firewalls Before Your Remote Exam” (https://cmtassociation.org/chartered-market-technician/cmt-exams-remote-proctoring/).  This section has instructions on how to disable your firewalls and virus

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

Back to top

New Educational Content This Month

Back to top