Letter from the Editor
The MTA Annual Award recognizes significant accomplishments in the field of technical analysis. It has been bestowed for pioneering work, an insightful innovation, or an extraordinary career. This year’s winner offers an example of an extraordinary career. Robert Peirce, the 2010 Annual Award winner is discussed briefly in this issue, and his story illustrates that technical analysis can be applied to investment management.
All too often we hear that technical analysis is not widely accepted in the finance world. Nothing could be further from the truth, and Bob Peirce is but one example among many where technical analysis was applied professionally.
One problem that does damage the reputation of professional technicians is that many people attempt to apply technical analysis without possessing great skill or applying sound techniques. The best defense against the misconceptions inspired by poor analysis is quite possibly your MTA membership. We discuss that idea elsewhere in this issue and hope that all members will let potential employers and clients know that they are bound to follow the industry’s highest professional and ethical standards. Your MTA membership is proof of professionalism.
As usual, we also offer examples of excellent analysis in Technically Speaking. Tom McClellan is advancing the work of his parents, and Sherman McClellan is another example of an individual who has enjoyed an extraordinary career in technical analysis. Their work is highlighted this month.
We hope that the articles in this issue will inspire you to achieve greatness in your career as Robert Peirce and Sherman McClellan have.
Mike Carr, CMT
Robert Peirce: 2010 MTA Annual Award Winner
In the November 1987 issue of the MTA Journal, Gail Dudack wrote a short paragraph which may very well be the best description of the Award: It is written in the constitution that one of MTA’s...
McClellan Financial Publications (http://www.mcoscillator.com/)by Tom McClellan & Sherman McClellan
Editor’s note: Sherman McClellan has made incredible contributions to the field of technical analysis and the Market Technicians Association over the many years that he has been in the business....
MTA Video Archives: Katherine Townshend Stockton, CMTby Katie Stockton, CMT
In May 2007, Katie offered MTA Symposium attendees a short tutorial on applying relative strength. The complete presentation can be seen by clicking here. The MTA Video Archive contains a number of...
Efficient Market Hypothesis' False Reign Over Financial Marketsby David Waggoner, CMT
This article was previously published at http://www.minyanville.com/businessmarkets/articles/efficient-markethypothesis-rwt-emh-technical/7/26/2010/id/29311 and is reprinted with the permission of...
Can Anyone be a Technical Analyst?by Michael Carr, CMT
Sadly, the answer to that question is yes. All it seems to take is the time to create a blog account before some writers claim that they are providing market insights and analysis. The rapid and easy...
MTA Press and Media Center – New Page on MTA.org! The MTA is pleased to announce the launch the new Press & Media Center page on our website. This page will showcase all MTA Press Releases...
New Educational Content This Month
February 1, 2023
An Introduction to Technical Analysis
Presenter(s): Ralph Acampora, CMT
January 4, 2023
High Profit Candlestick Patterns
Presenter(s): Stephen W. Bigalow
December 12, 2022
Structural Interest Rate Reversal Finally Underway?
Presenter(s): Louise Yamada, CMT