Technically Speaking, January 2011

Letter from the Editor

As we start a new year, many people take the time to reflect on where they are, and where they have been. Considering the state of our discipline at this time, we can note that technical analysis is widely accepted and well covered in the investment community. Bloomberg terminals dominate the professional landscape and offer news and analysis, but also charts and thousands of variations of charting. For those without access to these terminals, some type of charting software is the dominant application on their desktop.

It is very likely that most MTA members and affiliates can’t even remember a time when technical analysis wasn’t widely accepted. More than a decade ago, day trading became popular, and these strategies more often than not involved technical tools. But only a decade before that, in the mid-1980s, technical analysis was limited to a small part of the investment community and FNN, the predecessor to CNBC, devoted only a small part of their programming to the subject. In many ways, we are experiencing the same lack of acceptance in the academic community. While many professors scoff at the tools we use profitably, in some ways it is just a debate rooted in semantics. Technicians focus on practical solutions, and academics focus on statistically valid proofs. The objective is the same but the language is different.

In time, technical analysis will break down the barriers faced in academia, just as it gained acceptance among professionals and individual investors. The MTA is leading the way in this push, expanding membership among professionals and students, and taking steps to ensure that the CMT remains the gold standard level of professional certification.

Hopefully, this newsletter meets your needs and helps further the goals of the MTA. With the introduction of the continuing education program, professionals can earn credits by contributing to the newsletter. Aspiring professionals, including those still in college, can distinguish themselves in the highly competitive job market by adding writing credits to their resumes.

We look forward to serving you in the year ahead,

Sincerely,
Mike Carr, CMT

What's Inside...

Correction: Los Angeles MTA Chapter Meeting November 15, 2010

In last month’s issue of Technically Speaking, we incorrectly spelled the name of legendary market technician Joe Granville.

We regret...

Read More

Q&A: Technically Speaking Interviews Jeffrey Weiss, CMT

Editor’s Note: Jeff has enjoyed a long and successful career. Readers can benefit as much from reading his biography, which...

Read More

Volume Price Confirmation Indicator

On August 31, 2005, Buff Dormeier, CMT, made a presentation to the Chicago Chapter of the MTA. It is available...

Read More

Q&A: Technically Speaking Interviews Alex Spiroglou, CFTe, MSTA

Editor’s Note: Investing is obviously a consuming focus of Alex Spioglou’s life. He has excelled and readers can gain a...

Read More

Head and Shoulders through the Ages

The Head and Shoulders (H&S) pattern is a mainstay of technical analysis. Chart patterns, from candlesticks to those catalogued by...

Read More

Announcements

MTA Launches Members-Only Social Network

The MTA is pleased to announce the launch of our members-only social network....

Read More

Correction: Los Angeles MTA Chapter Meeting November 15, 2010

In last month’s issue of Technically Speaking, we incorrectly spelled the name of legendary market technician Joe Granville.

We regret the error.

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)

Q&A: Technically Speaking Interviews Jeffrey Weiss, CMT

Editor’s Note: Jeff has enjoyed a long and successful career. Readers can benefit as much from reading his biography, which is below the interview, as they can from reading Jeff’s thoughtful answers. He demonstrates that success requires a passion for the markets, a disciplined approach to strategy, and the willingness to endure the ever-shifting face of Wall Street. Jeff has worked with some of...

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)

Jeffrey S. Weiss, CMT

Jeffrey Weiss, CMT, is chief technical analyst at Clearview Trading Advisors in New York City.  His new book is “Relationship Investing: Stock Market Therapy for Your Money,” (Skyhorse Publishing, 2017). Find out more about the author at www.aaii.com/authors/jeffrey-weiss. Weiss will speak at...

Amber Hestla-Barnhart

Bio coming soon.

Volume Price Confirmation Indicator

On August 31, 2005, Buff Dormeier, CMT, made a presentation to the Chicago Chapter of the MTA. It is available in the on demand video archives section of the MTA web site.

Buff has written about extensively about this idea, and his work on Price & Volume, Digging Deeper was recognized with the Dow Award in 2007, http://www.mta.org/eweb/docs/2007DowAward.pdf. In that paper, he wrote, “When...

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)

Buff Dormeier, CMT

Buff Dormeier serves as the Chief Technical Analyst at Kingsview Wealth Management.  Previously, he was a Managing Director of Investments and a Senior PIM Portfolio Manager at the Dormeier Wealth Management Group of Wells Fargo Advisors. In 2007, Dormeier’s technical research was...

Michael Carr, CMT

Mike Carr, who holds a Chartered Market Technician (CMT) designation, is a full-time trader and contributing editor for Banyan Hill Publishing, a leading investment newsletter service. He is an instructor at the New York Institute of Finance and a contributor to various additional...

Q&A: Technically Speaking Interviews Alex Spiroglou, CFTe, MSTA

Editor’s Note: Investing is obviously a consuming focus of Alex Spioglou’s life. He has excelled and readers can gain a sense of how he developed a simple concept, intermarket analysis, into a complete methodology. That is a common theme among investment professionals – specialization and expertise. At the end of the interview, he provides excellent advice for the aspiring analyst.

How would you describe...

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)

Alex Spiroglou, CFTe, DipTA (ATAA)

Alex Spiroglou is a quasi-systematic, cross-asset proprietary futures trader. His involvement with capital markets began in 1998, having worked for various proprietary trading and investment management firms in the UK and Greece. He is currently trading his own book, and is active in...

Amber Hestla-Barnhart

Bio coming soon.

Head and Shoulders through the Ages

The Head and Shoulders (H&S) pattern is a mainstay of technical analysis. Chart patterns, from candlesticks to those catalogued by Edwards and Magee in Technical Analysis of Stock Trends were the first tools developed in the discipline. Technical analysis is built upon the idea that supply and demand determine price, and the chart action reflects the changes in these two factors over time. Edwards...

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 Carr, CMT

Mike Carr, who holds a Chartered Market Technician (CMT) designation, is a full-time trader and contributing editor for Banyan Hill Publishing, a leading investment newsletter service. He is an instructor at the New York Institute of Finance and a contributor to various additional...

Amber Hestla-Barnhart

Bio coming soon.

Announcements

MTA Launches Members-Only Social Network

The MTA is pleased to announce the launch of our members-only social network. As a member of the MTA, you automatically receive access to this community portal at no additional cost. We encourage you to use this new member benefit as an additional networking tool to link you with other technicians who share similar interest and may...

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)