LETTER FROM THE EDITOR
This year marks the fortieth anniversary of the founding of the MTA and presents an opportunity to review the work of some of the giants of technical analysis. Each month, we will feature the work of at least one of the individuals who have had a large impact on the study of technical analysis, starting with an in-depth look at the work of Bernadette Murphy, CMT, who was one of the first to note the importance that options trading would have in market analysis. We have reprinted an article she prepared for the MTA Journal in 1980 that serves as a primer to the options markets and shows an example of the thought process that has allowed her to stay ahead of the markets for almost fifty years.
Bernadette was also among the first to understand the importance of professional certification and was instrumental in the development of the CMT program. She also understood the limitations of the CMT and in November 1981 wrote, “The principles, philosophy and measurement tools of the technical analyst make analysis of the stock market viable. The effectiveness of the conclusions depends upon the talent of the user. Medical, legal and accounting disciplines are tested regularly. Many pass the examinations but only a handful becomes outstanding practitioners. The talents of the user make the difference. I believe the same applies in the world of technical analysis.”
Interestingly, her niece Mary Ann Bartels has also become an outstanding practitioner, continuing the family tradition of identifying new market trends and developed sentiment indicators based on more recent market changes. Mary Ann is one of the exceptional speakers scheduled to make a presentation at the Annual Symposium in April offering current insights into the markets.
Please tell us about the thought leaders you think we should feature in upcoming issues of Technically Speaking by emailing firstname.lastname@example.org.
A FAMILY OF UNIQUE INDICATORS
Technical analysis includes a review of the action in a market to understand the trend. Many technicians limit themselves to price but there is also a family of indicators that looks at who is...
THE OPTION MARKET – EARLY TRENDSby Bernadette Bartels Murphy, CMT
Editor’s note: This article was published in the MTA Journal in 1980 and looked at exchange-traded options trading less than ten years after they were introduced. A full copy of that Journal is...
A NEW SCREENERby David Steckler
Editor’s note: This article is extracted from a daily review of the trading action in ETFs that was originally posted at Dave’s ETF RoundUp on December 10, 2012. It is reprinted here with...
A TECHNICAL GUIDE FOR ENERGY TRADERSby Jonathan Beck
Editor’s note: A Technical Guide for Energy Traders is a daily newsletter that provides astute and intelligible technical commentary backed up with crystal clear charts that aim to help you make...
AN EXAMPLE OF ADVANCED TRADING SYSTEMSby David Aronson, CMT
Editor’s note: David Aronson’s “Evidence Based Technical Analysis” is required reading for CMT candidates. It is a book that details how to apply the philosophy of the scientific method to...
New Educational Content This Month
January 26, 2022
Tech Talk: Seasonality & a Career in Technical Analysis
Presenter(s): Don Vialoux
January 19, 2022
The Wisdom in the history of the Advance-Decline Indicator
Presenter(s): George A. Schade, Jr., CMT
December 9, 2021
Discussion of Current Research – Chicago Chapter Meeting
Presenter(s): Matthew Timpane, CMT