Michael Covel has studied trend following and written extensively on exactly how this trading strategy works. His research may be the most comprehensive look at what trend following is and the most detailed history of how well it works. Trend following trading reacts to the markets. Trend followers make no effort to forecast or predict markets or price levels. Trend trading is a disciplined approach to entering and exiting markets with precise rules that define a risk management. Covel believes that it is a system that money management can be easily incorporated into trend following systems and long-term success can be achieved by almost any trader willing to strictly follow a sound trend following system. Success comes from following the rules of the strategy and giving the discipline to ignore the emotions that make it difficult to execute any trading strategy. Trend followers try to capture the major part of a market

As the Dow keeps climbing higher (although not yet outside of the external circle of the pentagon from last month’s article), I am pondering the possibilities of a new all-time high, as well as large chart patterns such as a double top or a 5 wave expanding pattern. This naturally stirs the desire to establish large-scale frameworks of effective support and resistance of the major tops and bottoms that extend into the future. Therefore, I would like to present some of my large-scale parabolic curves and structures along with upcoming dates and prices for possible major reversals: a ‘parabolic perspective’, so to speak. And here’s the kicker: It all comes from the low of August 1982. (Concerning parabolic theory and my techniques, I will describe these as we go along. First, I want you to see these curves in action.) The first chart shows S/R for all major reversals since and including 2000.  The

Thank you for your feedback and comments on the 2011 Annual Member Survey. This Survey was distributed to the entire MTA membership. We would like to thank those of you that took the time to provide us with feedback that will help the MTA to improve our offerings and better serve you, the membership. This year’s Survey included six major sections:  Demographic Data Member Services Future Directions Advocacy CMT Program Improvement Volunteering with the MTA There were a few key points that impact the overall direction of the MTA that we would like to highlight. The three (3) graphs below represent important demographic trends about the memberships’ level of education, professional occupation and country of residence. Career Development A significant finding of the 2011 survey was that the membership values the Career Development Center (CDC) and the tools provided within. Over 39% of respondents indicated that it provided good value currently. It was ranked #2 (along with the Educational Web

Tracing an indicator’s origin is an exciting hunt. Gregory Morris and Robert Colby have written about the “Schultz AT” measure of market breadth. Morris asked who Schultz was but did not get a complete answer, while Colby suggested that AT had been named after John W. Schulz (no “t” in the surname).[i] AT’s formula is simple, namely, the total number of advancing issues is divided by the number of total issues traded. The unaccumulated ratios are charted daily or smoothed preferably with a short term moving average. Neither Harry D. Schultz nor John W. Schulz originated the AT indicator, but both popularized it. Harold M. Gartley created AT and wrote about it in 1935. I. John W. Schulz John W. Schulz was an early member of the Market Technicians Association (“MTA”). In 1979, he received the MTA Annual Award. According to Ralph Acampora, Schulz was a primary drafter of the charter MTA Constitution. In 1972,