Technically Speaking, May 2025

Dear Readers,

Welcome to the May 2025 issue of Technically Speaking. This month’s issue captures the momentum building within our community—from candid personal insights to global gatherings and forward-looking thought leadership.

We begin with a personal and reflective letter from Board Member Jay Woods, CMT, who draws on over three decades of experience on Wall Street to illuminate how markets—and the tools we use to navigate them—continue to evolve. Following that, Sergio Santamaria, CMT, CFA, shares his unique experience curating the Journal of Technical Analysis. It’s a fascinating look at the intellectual rigor and community collaboration behind our discipline’s leading publication.

Looking ahead, Kaizad Marolia, CMT, offers a preview of the 2025 CMT Global Investment Summit, promising essential insights into a market landscape defined by structural shifts and digital innovation. If the future of investing is on your radar, this is a must-read.

We also spotlight the global reach of our community: Jake Damien Chow, CMT, recaps the vibrant CMT Singapore Chapter event, while Razan Hilal, CMT, brings us highlights from Trade with Insight, an inspiring Dubai-based event celebrating women in technical analysis and strategy. In Fill the Gap, Gary Antonacci joins David Lundgren, CMT, CFA, and Tyler Wood, CMT, for a dynamic fireside chat on momentum—an enduring and powerful force in financial markets.

Whether you’re preparing for certification, expanding your network, or seeking insight into emerging market trends, this issue brings something for every stage of your professional journey.

Onward,

Alayna Scott
Editor, Technically Speaking

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What's Inside...

Letter from Board Member Jay Woods, CMT

By Jay Woods, CMT

In my three plus decades on Wall Street, I have had a front row seat to the constant evolution of markets. 

We went from trading with pen...

Read More

Behind the Charts: Curating the Journal of Technical Analysis

By Sergio Santamaria, CMT, CFA

My career in finance has taken me across both the industry and the classroom, giving me a rare vantage point into the world of markets, analytics, and investor behavior....

Read More

2025 CMT Global Investment Summit: A Sneak Peek into the Future of Investing

By Kaizad Marolia, CMT

As global markets enter a period of profound structural change driven by shifting macroeconomic regimes, rapid innovation in digital finance,...

Read More

Advance Your Career, Create Connections, Become a Legend

By Heather Higgins

The time has never been better to apply for Professional membership at CMT Association. Our new membership page details the many benefits of being a member. Helpful videos on...

Read More

CMT Association Singapore Chapter Event

By Jake Damien Chow, CMT

On April 29th, the CMT Association Singapore Chapter hosted a dynamic in-person event at WeWork, bringing together a diverse group of professionals, market practitioners, and technical analysis enthusiasts.

We...

Read More

Event Recap: “Trade with Insight” – Women Leading the Way in Technical Analysis and Strategy

By Razan Hilal, CMT
By Yara Fanek, CFA, CMT

Dubai, May 8, 2025 – the CMT Association, in partnership with FOREX.com, proudly hosted “Trade with Insight: Women Leading the Way in Technical Analysis & Strategy”, a closed-door session celebrating...

Read More

Fill The Gap with Gary Antonacci

By Gary Antonacci
By David Lundgren, CMT, CFA
By Tyler Wood, CMT

Momentum remains one of the most persistent and powerful anomalies in financial markets. In this engaging fireside chat, recorded live at the West Coast Regional Summit in San Francisco, we...

Read More

Keep an Eye out for Upcoming Webcasts!

By Matt Lutey, PhD
By Adam Koós, CMT, CFP®, CEPA
By Gordon Scott, CMT

Read More

CMT Exams: June Test Prep and December Registration

By Mike Rickert

CMT candidates, the June exams are fast approaching! Level I and Level II exams are available from June 10 through June 26, and the Level III exam is June...

Read More

CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with the future of your professional community

By Tyler Wood, CMT

CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with the future of your professional community.

You are cordially invited to participate in the 2025 Annual...

Read More

Congratulations to our 21 New Chartered Market Technicians!

By Barbara Terry

We are thrilled to announce the achievement of 21 individuals who have recently earned their Chartered Market Technician (CMT) designation. This prestigious accomplishment signifies a remarkable dedication to the field...

Read More

Letter from Board Member Jay Woods, CMT

In my three plus decades on Wall Street, I have had a front row seat to the constant evolution of markets. 

We went from trading with pen and paper in an open outcry system where “your word was your bond” to trading in nanoseconds without human interaction and getting executions immediately delivered to your phone. 

Trading increments went from 1/8ths to 1/16ths (teenies) to pennies before changing to sub-penny trading where you can buy fractional shares of stocks for a specific dollar amount. Imagine being able to buy $10 worth of IBM in the 1980’s – it could never happen. Today, it’s seamless. 

Market structure – don’t get me started… but I digress. 

Throughout my journey, which began by drawing charts with pencil on graph paper to being a NYSE trader to my current role as a market analyst, everything evolved. However, one thing remains constant – PRICE. 

Price is what pays and at the end of the day the goal is to make money. Technicals provide you a road map to the best risk/reward set-ups. Respect price and stay true to trends and you are miles ahead of your trading and analytical peers. 

Career Highlight – Ringing the NYSE Closing Bell representing CMT Association’s Board

I began charting shares of IBM as an 8-year old. My uncle, Ralph Acampora, CMT, bought me these shares as a gift under one condition – I chart the high, low, and close on a weekly basis. Little did I know the future impact it would have on my life and career. 

I discussed that story and my career path with Tyler Wood, CMT and David Lundgren, CMT, CFA on CMT Association’s Fill the Gap podcast #47, Technicals Tell The Story. 

Outside of drawing that chart for a year or two, I never got too involved with the market until I landed an internship while I was a student at Fordham University. That internship was on a trading desk where I caught the trading bug. 

Back then it was the yelling and screaming with constant action – I thought that was euphoric. I parlayed that experience into a job on the floor of the NYSE. Talk about euphoric!! 

I spent my early years as a clerk running errands and learning the ropes from the savvy veterans in a kill-or-be-killed environment. However, it wasn’t always being the loudest or biggest that thrived – although my loud mouth never hurt. 

Photo credit: Richard Drew, Associated Press  

My firm, Spear, Leeds & Kellogg, made it mandatory that all NYSE staff take an introductory class on technical analysis. Of course that teacher was none other than Uncle Ralph. He taught my colleagues, in fact, he taught the entire street. I had already taken the class once before, but my firm hired him to personally teach all of us.  

Then I took Alan Shaw’s class for level 2. I had no idea at the time that these classes from two of the founders of CMT Association (then called MTA) would change my life. 

The charts gave me an edge. As the human element became less and less, there were fewer personalities to get information from so I studied price action more. I tried to find a system that worked best for me. My go to indicators were MACD and RSI. I also focused on moves by studying multiple time frames for perspective. 

While I will never claim to be the best trader on the floor, my ability to remain viable throughout the mass layoffs during the financial crisis had a lot to do with my ability to manage risk and consistently make money.  

Post-financial crisis, the floor became mostly electronic. I had free time as algos did most of my work. A few CMTs, namely J.C. Parets and Mark Newton, got in my ear and inspired me to get my CMT designation. Technical analysis was something I used all my life, but I never felt the need to get the designation. I worked for Goldman. I was successful on the floor. Why would I need this? 

Well I am thankful for that push. The curriculum helped me hone my skills and continue to grow my knowledge base. My role wasn’t only to trade but to talk about trading activity with my listed companies. I started incorporating technicals to paint a better picture to describe day-to-day price movement and relayed that back to C-Suite executives at Fortune 500 companies. It was well received and gave me another use for the technicals that my competitors didn’t utilize.  

As my career evolved, I started getting more and more involved with CMT Association. I got my designation in 2017 and started speaking at events. I met a plethora of influential people within the organization and grew a network of friends who I respect and continue to learn from.  

It was that involvement that helped me pivot. After COVID I left the trading smock behind and became an analyst who dissected market moves and talked about trading activity. It was an unexpected twist, but one I love. Now you can see me from time to time on most of the major financial networks talking about the market and breaking down the technicals.  

I also joined the Board at CMT Association after COVID. As a Board member my goal is to enhance the educational platform and networking offerings to all our members. I want us to get into the community, share ideas, and hear more of the younger voices within the industry. 

The connections I have made through CMT Association are unparalleled. I am always learning and honing my skills. In fact, I now get to teach some of those skills at Fordham University which proudly added technical analysis to their graduate curriculum offering.  

In lesson one to my class, I teach that price is fact, earnings are estimates, and that the most important skill you need to be successful in the financial industry is to be able to manage risk. For my money there’s no better tool to help you manage that risk than technical analysis. 

Author(s)

Jay Woods, CMT

Jay Woods is the Chief Global Strategist for Freedom Capital Markets and Professor of Technical Analysis at Fordham University. Prior to joining Freedom, he was the Chief Market Strategist at…

Behind the Charts: Curating the Journal of Technical Analysis

My career in finance has taken me across both the industry and the classroom, giving me a rare vantage point into the world of markets, analytics, and investor behavior. Early in my professional journey, I worked on asset allocation and portfolio management, where I quickly discovered the power—and limitations—of models grounded in pure fundamentals. Like many practitioners, I found myself increasingly drawn to technical analysis as a complementary discipline—one that could enhance timing and risk control. That interest eventually evolved into a vocation. 

Since 2010, I have had the privilege of teaching a full-semester course on technical analysis at the Walton College of Business at the University of Arkansas, where I am a finance faculty member. Over the years, my students have not only embraced the analytical tools of the discipline but have excelled at applying them in practice. Several Walton finance students have taken top honors in the CMT Investment Challenge demonstrating that a solid technical framework can lead to impressive real-world performance when paired with disciplined thinking and rigorous application. 

My academic and practitioner experience naturally led me to the Journal of Technical Analysis (JoTA), where I now serve as Chair of the Editorial Committee. The journal is the peer-reviewed research publication of CMT Association, and our mission is clear: to advance the understanding and credibility of technical analysis through rigorous, well-documented scholarship. 

Putting together each issue of JoTA is a meticulous, multi-month endeavor that requires coordination, subject matter expertise, and an unwavering commitment to quality. Our process begins with an open call for papers. Submissions come in from all over the world—professors, market practitioners, and doctoral students alike. Topics range from momentum-based strategies and behavioral biases to statistical testing of chart patterns and innovations in machine learning applications. 

Each paper is first screened for scope, relevance, and baseline quality. Submissions that meet our standards are assigned to anonymous peer reviewers, typically experts in technical analysis principles, quantitative finance, and statistical analysis. We use a double-blind review process to eliminate bias: authors don’t know who is reviewing them, and reviewers don’t know the identity of the authors. 

Peer reviewers provide detailed comments on the paper’s methodology, statistical rigor, data reliability, and practical implications. Some submissions are accepted with minor revisions, while others may go through multiple rounds of revision—or be declined if the research falls short of our criteria for publication. As chair, I work with the editorial committee to synthesize feedback, ensure consistency across evaluations, and communicate our decisions to authors in a constructive, transparent way. 

Once accepted, a paper moves into production—copyediting, layout design, and final proofing. It is at this stage that academic rigor is balanced with readability. While our primary audience includes technical analysts and academics, we also aim to make the journal accessible to serious market participants seeking to apply the research. 

What makes JoTA unique is that it bridges theory and practice. Many academic journals remain detached from the realities of trading and portfolio management, but JoTA thrives in the space where academic precision meets market pragmatism. That, to me, is the future of technical analysis—grounded in evidence, validated by peer review, and tested in the marketplace. 

Each issue of the journal reflects the work of many hands—authors, reviewers, committee members, and CMT Association’s dedicated staff. But most of all, it reflects a shared belief that markets are not only data-driven but human-driven, and that technical analysis—when held to a high standard—offers essential insights into both. 

As we look ahead to future volumes, I invite both academics and practitioners alike to contribute to this evolving conversation. The journal is not just a publication; it is a community of inquiry, and there is always room at the table for those who seek to understand markets more deeply. 

Author(s)

Sergio Santamaria, CMT, CFA

Sergio Santamaria is a senior research associate/portfolio manager and adjunct finance professor at the Garrison Financial Institute and the Walton College of Business (University of Arkansas), respectively. Before joining the…

2025 CMT Global Investment Summit: A Sneak Peek into the Future of Investing

As global markets enter a period of profound structural change driven by shifting macroeconomic regimes, rapid innovation in digital finance, and ongoing geopolitical volatility, the need for disciplined, repeatable, and research-driven investment processes has never been greater. 

To meet this moment, CMT Association is proud to present its most ambitious event yet: the 2025 CMT Global Investment Summit, taking place from September 30th to October 2nd in Dubai, United Arab Emirates. Set in the awe-inspiring Museum of the Future and launched in partnership with the DIFC Academy, this landmark summit will gather 250+ fund managers, strategists, traders, and thought leaders from across the globe to explore what lies ahead for capital markets—and how we as practitioners must evolve to meet it. 

Looking Back: The 2024 Dubai Summit

Our inaugural summit in Dubai and our first ever global conference, held on February 29th, 2024, marked a turning point for the Association’s global expansion into the GCC region. Hosted at the iconic Museum of the Future, the event was nothing short of transformative. With over 250 attendees from across the world, the 2024 Summit featured high profile presentations from legendary voices like John Bollinger, Gina Martin Adams, Julius de Kempenaer, and many more. 

Discussions spanned from global equities and intermarket analysis to crypto-assets and cross-asset momentum, offering attendees a comprehensive view of market behaviour during a time of great transition. Perhaps most notably, the summit catalysed a strategic partnership between CMT Association and DIFC Academy, laying the groundwork for a regional technical analysis curriculum and enhancing Dubai’s role as a future-forward financial education hub. 

This historic gathering didn’t just celebrate our legacy it established a new frontier for the discipline. 

Here’s a quick recap of the 2024 meeting:

2024 CMT Summit Highlights Reel:

 

CMT & DIFC Academy Partnership:

Setting the Stage: About the 2025 Global Investment Summit 

The 2025 CMT Global Investment Summit is more than just a conference, it’s a defining moment in the evolution of technical analysis and global finance. Taking place from September 30th to October 2nd in Dubai, UAE, this flagship event sets the stage for charting the future of investing through data-driven decision-making and disciplined strategy. 

Set inside the iconic Museum of the Future, the summit will convene over 250 professionals from across the financial spectrum – hedge fund managers, institutional allocators, Chief Investment Officers, prop traders, strategists, and market researchers. Each participant shares a common goal: to harness the power of technical analysis in navigating today’s increasingly complex markets.

The 2025 agenda has been thoughtfully designed to blend foundational education, macro context, and advanced strategy across three powerful days. From technical workshops on momentum and money flow to high-level panels on digital assets, energy markets, and global macro shifts, the Summit offers actionable insights across asset classes, geographies, and timeframes.

Above all, the 2025 Summit sets the stage for clarity amidst volatility, discipline amidst noise, and community amidst fragmentation, hallmarks of every CMT Association event. It is where the message of the market is decoded, and where the next chapter of global investing begins.

From Foundation to Forecast: Breaking Down the 2025 Agenda

This year’s summit builds directly on the momentum 2024 brought, offering even greater access to cutting edge insights, expert faculty, and the tools needed to navigate uncertainty in real-time.

 

September 30th – Foundations Day @ DIFC Academy 

The Summit opens with a full-day technical primer, offering attendees a practical toolkit to better engage with advanced content throughout the week. Sessions will unpack essential topics drawn directly from the CMT Program curriculum, including: 

      • Trend Identification & Relative Strength 
      • Momentum Indicators 
      • Volume & Money Flow Analysis 
      • Market Breadth Tools 
      • Volatility as a Signal 
      • Seasonality & Cycles 
      • Risk Management Frameworks 

Ideal for both experienced analysts and those newer to technical approaches, these workshops provide a shared language for understanding market structure and decision-making frameworks rooted in data. 

October 1st & 2nd – Strategy Sessions @ Museum of the Future 

The core of the Summit features two days of thematic exploration, each structured around four critical market forces shaping portfolios in 2025: 

      1. Global Commodities & the Energy Transition

From crude oil and natural gas to lithium and rare earths, we’ll examine how commodity flows are being reshaped by climate mandates, emerging economies, and infrastructure cycles.

Technical takeaway: How to trade macro themes through relative strength, intermarket signals, and volatility regimes. 

      1. Digital Assets & Decentralized Finance

The digital asset space has matured beyond speculation, integrating into institutional portfolios and national monetary frameworks. This segment will explore infrastructure, tokenomics, and regulatory shifts.

Technical takeaway: Understanding market behavior in low-liquidity, high-volatility assets through price action and volume-based signals. 

      1. Treasury Rates & Fiat Currencies in Global Reordering

With sovereign debt markets in flux and policy divergence at record levels, understanding fiat strength, currency volatility, and bond-equity correlations is vital.

Technical takeaway: Applying momentum, moving average systems, and intermarket relationships to manage duration and currency risk. 

      1. Equity Allocations: Valuation Meets Momentum

Whether it’s long-only mandates or tactical overlays, equity managers are seeking ways to align traditional valuation frameworks with modern, rules-based systems.

Technical takeaway: Leveraging factor rotation, sector leadership, and behavioural trends through momentum overlays and relative strength tools. 

Each theme kicks off with a panel discussion of policy, structure, and secular trends, followed by technical strategy sessions that answer one crucial question:
“How do we react responsibly to this information?” 

Why CMT Events Stand Apart 

CMT Association events are globally recognized as the premier forums for investment research rooted in technical analysis. What sets these summits apart is a relentless commitment to educational rigor, evidence-based strategies, and practical implementation. These aren’t marketing expos or product showcases, they are learning environments, built by and for professionals dedicated to mastering the craft of market analysis. 

From Tokyo to New York, London to Mumbai, and now Dubai, CMT summits have consistently provided a platform for top portfolio managers, proprietary traders, institutional allocators, and research heads to connect, share, and innovate. 

One of the most remarkable testaments to the quality of content at CMT events is the scene that repeats itself every year, market legends and authors of seminal work and pioneers of the field staying after their own presentations, notebook in hand, taking notes and asking questions. At CMT events, learning never stops no matter how experienced you are. 

 

 

 

 

 

Attendees value these gatherings for: 

      • High-Impact Learning: No fluff, just actionable insight from peers and pioneers. 
      • Unmatched Networking: Build real relationships with global institutions and boutique innovators alike. 
      • Global Community: Join a growing movement to elevate the standards of technical analysis worldwide. 

Here’s what a few of our key guests had to say: 

“This is a can’t-miss event. In addition to hearing from industry rockstars, networking with others who ‘speak the language’ it’s a rare opportunity to improve my own game when it comes to Technical Analysis.” 

— Dr. Kelly Corbiere, CMT, CFA, CFP

“The annual CMT events are a lot of fun! It is a very humbling and exciting experience to get to interact with the legends of our field. Last year I was asked to be a speaker and was nervous to stand in front of legends, but everyone was so encouraging and gracious.”
Vernon Bice, CMT 

“I look forward to the Symposium more than anything else. It’s an opportunity to hear about what the organization is up to, learn about new techniques and applications in the field of technical analysis, and catch up with colleagues.” 

David Lundgren, CMT, CFA

At the heart of every CMT event is a simple but powerful truth: markets evolve, and so must we. Join us where the future of finance is not just discussed but defined. 

Sponsorship Opportunities

Whether you’re showcasing a new product, advancing thought leadership, or deepening your regional impact, there’s no better platform.

      • Global Visibility: Connect with over 250 leading finance professionals worldwide.
      • Showcase Your Expertise: Affirm your leadership in technical analysis and market strategy.
      • Strengthen Regional Impact: Position your brand as a key contributor to market education in the GCC.
      • Powerful Promotion: Benefit from logo exposure, targeted emails, and sponsored content in Technically Speaking.

Exclusive Networking: Complimentary access to sessions, keynotes, and networking events for your team.

Explore Sponsorship Options Here

Join Us. Shape the Future of Investing

This isn’t just another conference, it’s a defining moment for the global investment community. The 2025 CMT Global Investment Summit in Dubai is where the brightest minds in finance gather to challenge conventional thinking, unlock powerful new strategies, and redefine what’s possible with technical analysis. 

Whether you’re managing institutional capital, building systematic models, or shaping macro strategy, this is your arena. You’ll walk away with more than just insights. You’ll gain a renewed sense of clarity, a network of global peers, and a framework to navigate markets with confidence. 

Be where the action is. Be where the future is built. 

September 30 – October 2, 2025 | Dubai, UAE

Visit https://cmtassociation.org/conference/global-investment-summit/ for early registration, speaker announcements, and exclusive content.

Author(s)

Kaizad Marolia, CMT

Kaizad Marolia, CMT has over 13 years of work experience across the financial and educational industries. He is the Head of Partnerships and Growth in Asia at CMT Association, the…

Advance Your Career, Create Connections, Become a Legend

The time has never been better to apply for Professional membership at CMT Association. Our new membership page details the many benefits of being a member. Helpful videos on the page both explain and show you how to take full advantage of membership.

Is membership right for you? Professional membership is for investment professionals who meet the professional work experience requirements. You do not have to be a CMT candidate or complete the examination process to apply for Professional Membership. However, Professional Membership is a requirement, along with passing the CMT Program Level III exam, of anyone who wishes to use the CMT designation.  

Members gain immediate access to these and other benefits:  

  • Reference Library – The all-new, all-digital, official CMT Curriculum, including all future lesson updates and new modules as they are published. 
  • Career advancement and networking opportunities through regular interaction with other professionals. 
  • Industry-leading content from successful technicians using the concepts and strategies they teach every day. 

Wondering if you meet the requirements for approved professional work experience or how best to find three references? You’ll find answers to those questions and more on Professional Membership Requirements 

Already a member? You can help introduce friends and colleagues to the value of CMT Association membership by telling them how it has helped your career. Expanding our reach to new and younger members across the financial industry and across the globe is a key priority for us. Your encouragement of aspiring CMTs will help ensure our association flourishes, stays relevant, and continues to evolve for decades to come.  

Confidently refer to your status with CMT Association using this handy guide. At each step in the process, members and candidates have certain designated ways they are entitled to refer to their status. Note the criteria for each. You are welcome to send any questions to our Member and Candidate Services team at admin@cmtassociation.org.

Author(s)

Heather Higgins

Heather Higgins serves as the Chief of Staff & Business Manager for the CMT Association, the global credentialing body for the Chartered Market Technician® designation. In this role, Heather oversees…

CMT Association Singapore Chapter Event

On April 29th, the CMT Association Singapore Chapter hosted a dynamic in-person event at WeWork, bringing together a diverse group of professionals, market practitioners, and technical analysis enthusiasts.

We were proud to feature a strong lineup of local thought leaders, each offering unique perspectives on market strategy and innovation in technical analysis.

Richard Siaw, Director of ETF Strategy & Investment Advisory at Global X, kicked things off with a well-received presentation titled “Enhancing Theme Selection with a Market Momentum-Driven Approach.” Richard explored how integrating momentum factors with point-and-figure charting can provide a more disciplined framework for selecting and constructing thematic ETFs. His approach demonstrated how technical insights can be applied to capture long-term trends in a rapidly evolving investment landscape.

Next up, our very own Jake Damien Chow, CMT, Chapter Co-Chair, introduced his quantamental strategy—a powerful blend of quantitative screening techniques with traditional technical principles. His framework focuses on identifying high-probability, outperforming sectors. What made his session particularly exciting was the overlap in conclusions with Richard’s presentation—validating the robustness of these data-driven methods and highlighting the increasing convergence between systematic and technical approaches.

We were also privileged to hear from Joel Pannikot, Managing Director of the CMT Association and Head of APAC & Global Chapter Strategy. Joel shared a compelling update on the evolving landscape of technical analysis globally. He touched on how the Association is adapting to key shifts in the industry—especially around the impact of artificial intelligence, the growing interest in behavioral finance, and the importance of staying ahead of these trends through continuous learning and global collaboration.

After the presentations, we wrapped up with a group photo and an informal networking session. The cozy WeWork space provided the perfect backdrop for continued conversations, market debates, and community-building over light refreshments. Because really, no CMT Chapter event is complete without sharing insights on how the markets have been treating us lately!

A big thank you to Joel for hosting us and to all who attended. It’s inspiring to see this community grow stronger, more engaged, and more innovative with each session.

As we continue to foster a vibrant and engaged community, we encourage members who are keen to speak at future events or volunteer for the local chapter to step up. Member contributions are vital in strengthening the voice of Technical Analysis in Singapore’s finance industry and ensuring the success of our community initiatives. If you are interested in speaking or volunteering, please reach out to us at jake.chow@cgsi.com or isaaclzp@gmail.com. We look forward to your active participation and support.

Author(s)

Jake Damien Chow, CMT

Jake Damien Chow, CMT is currently the Director of Portfolio Management at CGS International Securities Singapore. His primary responsibilities include managing ETFs. discretionary investment mandates, conducting quantitative research to uncover…

Event Recap: “Trade with Insight” – Women Leading the Way in Technical Analysis and Strategy

Dubai, May 8, 2025 – the CMT Association, in partnership with FOREX.com, proudly hosted “Trade with Insight: Women Leading the Way in Technical Analysis & Strategy”, a closed-door session celebrating the growing influence of women in finance and championing technical analysis as a key tool for navigating today’s markets.

Held at FOREX.com’s Dubai office, the event brought together finance professionals for a morning of expert insights, interactive dialogue, and thought leadership — all through a technical lens.

Empowering Women, Elevating Markets

Headlining the session were two accomplished women in finance:

  • Razan Hilal, CMT, Market Analyst at FOREX.com
  • Yara Fanek, CFA, CMT, Independent FX Trader and Technical Strategist

Together, they delivered presentations and a fireside chat that blended real-world experience with practical insights. Their discussions emphasized the growing relevance of technical analysis in identifying opportunities, managing volatility, and navigating uncertainty — while also spotlighting female leadership and continuous education in the trading space.

Key Topics Covered

✔️ Today’s Market Realities: From currency safety to recession fears, attendees examined pressing questions around macro uncertainty and market sentiment.

✔️ Trader Pitfalls: Emotional mistakes like panic-selling, buying hype, and overexposure were addressed, along with techniques to stay disciplined under pressure.

✔️ Technical Tools in Action: Practical use of RSI, Fibonacci, and DMI to enhance market timing and decision-making.

✔️ Intermarket Insights: How correlations between oil, gold, VIX, and indices can provide early signals in shifting environments.

✔️ Risk Management & Mindset: Dow Theory, trend structure, and multi-timeframe analysis offered a framework for navigating volatility.

✔️ The CMT Edge: Highlighting the value of the CMT designation in building confidence, structure, and long-term analytical success.

“Markets often move ahead of the headlines — what we see in price reflects sentiment, positioning, and expectations long before the news breaks. That’s why technical analysis, combined with sound risk management, isn’t just helpful — it’s essential to making confident, well-timed decisions in today’s complex environment.”
— Razan Hilal, CMT

“Technical analysis isn’t just about charts — it’s about understanding behavior, recognizing patterns, and managing risk with discipline. The more you invest in continuous learning, the more confident and agile you become as a trader.”
— Yara Fanek, CFA, CMT

Author(s)

Razan Hilal, CMT

Razan Hilal, CMT, is a Market Analyst at FOREX.com (part of StoneX Group), delivering market insights in both English and Arabic through articles and major TV platforms. She is frequently…

Yara Fanek, CFA, CMT

Yara Fanek, CFA, CMT, is an independent FX trader and technical strategist, blending hands-on market expertise with innovative technical analysis methods tailored to the evolving economic landscape.  

Fill The Gap with Gary Antonacci

Momentum remains one of the most persistent and powerful anomalies in financial markets. In this engaging fireside chat, recorded live at the West Coast Regional Summit in San Francisco, we sit down with Gary Antonacci, the renowned author of Dual Momentum Investing, to explore the evolution, application, and enduring effectiveness of momentum-based investment strategies.

Gary will share his insights on the science behind Dual Momentum, how it enhances traditional trend-following approaches, and the ways investors can apply these principles to achieve superior risk-adjusted returns. Whether you’re a practitioner of systematic investing, a trend-following enthusiast, or simply curious about momentum’s role in portfolio management, this conversation will offer valuable perspectives from one of the field’s leading experts.

Click Here to listen the episode!

Author(s)

Gary Antonacci

Gary Antonacci, founder of Optimal Momentum, has over 50 years of experience as an investment professional focusing on underexploited investment opportunities. After receiving his MBA from Harvard Business School, Gary concentrated…

David Lundgren, CMT, CFA

David Lundgren has more than three decades of investment industry experience, with a focus on technical analysis strategies, particularly momentum and trend following. He is the former Director of Technical Research…

Tyler Wood, CMT

Tyler Wood serves as CEO and Executive Director of CMT Association with the aim of elevating investors’ mastery and skill in mitigating market risk and maximizing return in capital markets…

Keep an Eye out for Upcoming Webcasts!

Author(s)

Matt Lutey, PhD

Matt Lutey, PhD is a Professor of Business Administration – Finance, where he combines a deep interest in real-world investing with a commitment to student success. His research explores practical…

Adam Koós, CMT, CFP®, CEPA

Adam Koós, CMT, CFP®, CEPA, is the president, portfolio manager, and Senior Financial Adviser at Libertas Wealth Management Group, Inc., located in Columbus, Ohio.  His professional journey began just 10…

Gordon Scott, CMT

Gordon Scott, who holds the Chartered Market Technician (CMT) designation, is a former managing director of the CMT Association, where he oversaw all aspects of the CMT Program from developing…

CMT Exams: June Test Prep and December Registration

CMT candidates, the June exams are fast approaching! Level I and Level II exams are available from June 10 through June 26, and the Level III exam is June 12. If you have not scheduled your exam time with Prometric, please do so as soon as possible. Test centers have limited capacity, so you are more likely to get your preferred time if you schedule sooner. We wish you the best of luck with your exam! Reach out to admin@cmtassociation.org if you need assistance. 

You might have mixed feelings about how prepared you are for your exam. What we want is for everyone to be excited about the opportunity, not overwhelmed about the material. There’s still time to prepare for your exam, even if you’ve had limited time for studying up until now. 

So, we reached out to our Exam Prep Providers to see if they would be willing to send over something special to help our June 2025 candidates be successful on their upcoming exams. 

Free Courses And Resources From Optuma

Optuma has been helping candidates prepare for their CMT exams since 1996. Thousands of candidates have relied on them to prepare. In this period while they are updating their courses for the new curriculum, you can get access to their courses for free (you do have to be registered for the exam to get access). 

If you need access but did not receive an email from Optuma – and you are registered for the exam – please email support@optuma.com. 

The team at Optuma have spent the past few months combing through the new curriculum and learning objectives to build three practice exams that you can take right now. Practice exams are the ultimate way to be confident that you have locked in all the knowledge that you need to pass the exam. 

When you sign up to Optuma Exam Essentials, you also get access to a private forum where Optuma’s CMT staff can help you with any questions you have on the curriculum. 

Finally, the Optuma Exam Essentials also includes access to specially trained AI bots that have been trained on the new curriculum. Don’t risk getting wrong answers from more generic AI bots like ChatGPT.

Accelerated Cram Course, and a special message from Gordon Scott, CMT

Special message from Gordon Scott, CMT, plus an exclusive offer on his Accelerated Study Program to help you pass your CMT Level I exam! 

“Dear Level I Candidate, 

“Feeling nervous that you are not prepared for your first CMT exam? That’s a normal feeling for many right now. But don’t worry, CMT Association has some useful information for new Level I candidates. I hope this will help calm your fears so you can gain the confidence you need to ace the exam. 

“This information will help you overcome the very real challenges you face, and take advantage of the big opportunity ahead. Let me clue you in on a well-kept secret. Right now is the best time to be taking the CMT Level I Exam in the history of the program. No kidding. If you signed up to take the exam this June, you’ve already shown excellent market timing because there are new resources being made available to you that no other candidates have had in the history of the program. Let me explain. 

“The Challenge You Face –  Fact: just over half of the CMT Curriculum has been newly written or revised to be up-to-date based on a recent analysis of the financial industry. In years past, the curriculum typically hasn’t changed by more than twenty percent. While a new curriculum represents a challenge for test takers, this time around it also brings great news: the quality has never been better! These new chapters, authored by professionals currently working in the industry, are highly relevant to today’s markets. From a practical perspective there are two consequences of so much new content…” Continue Reading 

Missed June Registration? Register for December!

If you plan to enroll for the December exams, registration is open as of Monday, May 19. We recommend that you register as early as possible to take advantage of the early registration price to save $200. It also allows you to maximize the time you have access to the online curriculum to best prepare for the exam!

Author(s)

Mike Rickert

Mike Rickert serves as the Exam Manager for CMT Association, the global credentialing body for the Chartered Market Technician® designation. In this role, Mike oversees the construction, administration, and scoring…

CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with the future of your professional community

CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with the future of your professional community.

You are cordially invited to participate in the 2025 Annual Membership Meeting of CMT Association, taking place on Wednesday, 25 June 2025, at 10:00 AM Eastern Time via video conference.

This annual gathering is a pivotal opportunity for members to connect with CMT Association leadership, engage in important governance matters, and hear firsthand about the strategic direction of CMT Association for the year ahead.

Why Attend?

At this year’s Annual Meeting, you will:

  • Hear firsthand about the state of the association and key initiatives.
  • Learn about the strategic priorities and projects shaping the future of CMT Association and the global technical analysis community.
  • Celebrate the announcement of election results for the Board of Directors and Executive Officers.
  • Engage in important governance decisions that support the continued strength and credibility of your professional community.
  • Stay connected to your global network of technical analysts and members committed to advancing the discipline.

We encourage all members and candidates to attend and be part of this essential annual tradition. Preliminary agenda below.

Electing Future Leaders

Online proxy voting for the Annual Meeting is now open and will remain available through 23 June 2025. Active Professional, Emeritus, and Honorary members of CMT Association are requested to cast their proxy ballot electronically by clicking here. Simply log in with your MyCMT credentials to vote.

Please Join us at the 2025 Annual Membership Meeting

Preliminary Agenda

Date: Wednesday, 25 June 2025
Time: 10:00 AM EDT
Location: Virtual meeting hosted on GoToWebinar. Register today by clicking here.

ORDER OF BUSINESS

1. Reports from CMT Association Leadership

  • Rob Palladino, CMT, President
  • Tyler Wood, CMT, CEO & Executive Director
  • John Kolovos, CMT, CFA, Vice President

2. Election of CMT Association Directors for Fiscal Year Starting 1 July 2025

In accordance with the CMT Association Constitution, the Governance Committee presents the following slate of candidates for Director at Large to serve a 3-year term beginning 1 July 2025:

  • Janine Guenther, CMT, CFA
  • Damanick Dantes, CMT
  • Mohit Handa, CMT
  • Cedric Thompson, CMT, CFA

3. Election of CMT Association Officers for Fiscal Year Starting 1 July 2025

In accordance with the CMT Association Constitution, the Governance Committee presents the following slate of candidates for Executive Officer to serve a 1-year term beginning 1 July 2025. Members are asked to vote “YES,” “NO,” or “ABSTAIN” for the recommended slate:

  • President: John Kolovos, CMT, CFA
  • Vice President: Kelly Corbiere, CMT, CFA, CFP®
  • Treasurer: Eric Caisse, CMT, CFA, CFP®
  • Secretary: Gina Martin Adams, CMT, CFA

4. Renewal of 3-Year Term

In accordance with the CMT Association Constitution, the Governance Committee presents the following current directors for a renewal of their 3-year term. Members are asked to vote “YES,” “NO,” or “ABSTAIN” for the recommended slate:

  • Gina Martin Adams, CMT, CFA
  • Ananda Bhaumik, CMT, CTP
  • John Kolovos, CMT, CFA
  • Jay Woods, CMT

5. New Business

6. Adjournment

The Annual Meeting is open to all members and candidates of CMT Association. We encourage your participation.

Author(s)

Tyler Wood, CMT

Tyler Wood serves as CEO and Executive Director of CMT Association with the aim of elevating investors’ mastery and skill in mitigating market risk and maximizing return in capital markets…

Congratulations to our 21 New Chartered Market Technicians!

We are thrilled to announce the achievement of 21 individuals who have recently earned their Chartered Market Technician (CMT) designation. This prestigious accomplishment signifies a remarkable dedication to the field of technical analysis and investment strategy.

The Chartered Market Technician (CMT) designation is a globally recognized certification awarded by CMT Association. It reflects a deep understanding of market dynamics, proficiency in technical analysis, and a commitment to upholding the highest standards of professional conduct.

These newly certified individuals have demonstrated their expertise in interpreting market trends, identifying patterns, and making informed investment decisions based on rigorous analysis. Their attainment of the CMT designation underscores their commitment to excellence and distinguishes them as leaders in the financial industry.

In an ever-evolving market landscape, the expertise provided by Chartered Market Technicians is invaluable. Their proficiency in analyzing market data and identifying emerging trends equips them to navigate complex financial markets with confidence and precision.

We extend our heartfelt congratulations to these 21 individuals on their remarkable achievement. Their dedication, perseverance, and expertise serve as a testament to the significance of the Chartered Market Technician (CMT) designation in today’s financial world.

Please join us in celebrating their success and wishing them continued excellence in their careers as Chartered Market Technicians.

1. Ramasubramaniam Barathy

2. Nilanjan Dutta Roy

3. Nikhil Gayam

4. Ryder Harris

5. Bradley Huffman

6. Glenn Koh

7. Dario Latessa

8. William Lorton

9. Collin McAvoy

10. Yash Modani

11. Matei Oprea

12. Alexis Rodriguez Leon

13. Anthony Rose

14. Adam Schneider

15. Lucas Schwalbe

16. Daniel Seet

17. Chester Srp

18. Randall Thomas

19. Iray Thomas-Maurice

20. Fei Wang

21. Lixiao Yang

Author(s)

Barbara Terry

Barbara Terry is the CMT Association’s volunteer coordinator, based in New York. She has close to 20 years of experience in large-scale project management and account management roles, and is…

Letter from Board Member Jay Woods, CMT

In my three plus decades on Wall Street, I have had a front row seat to the constant evolution of markets. 

We went from trading with pen and paper in an open outcry system where “your word was your bond” to trading in nanoseconds without human interaction and getting executions immediately delivered to your phone. 

Trading increments went from 1/8ths to 1/16ths (teenies) to pennies before changing to sub-penny trading where you can buy fractional shares of stocks for a specific dollar amount. Imagine being able to buy $10 worth of IBM in the 1980’s – it could never happen. Today, it’s seamless. 

Market structure – don’t get me started… but I digress. 

Throughout my journey, which began by drawing charts with pencil on graph paper to being a NYSE trader to my current role as a market analyst, everything evolved. However, one thing remains constant – PRICE. 

Price is what pays and at the end of the day the goal is to make money. Technicals provide you a road map to the best risk/reward set-ups. Respect price and stay true to trends and you are miles ahead of your trading and analytical peers. 

Career Highlight – Ringing the NYSE Closing Bell representing CMT Association’s Board

I began charting shares of IBM as an 8-year old. My uncle, Ralph Acampora, CMT, bought me these shares as a gift under one condition – I chart the high, low, and close on a weekly basis. Little did I know the future impact it would have on my life and career. 

I discussed that story and my career path with Tyler Wood, CMT and David Lundgren, CMT, CFA on CMT Association’s Fill the Gap podcast #47, Technicals Tell The Story. 

Outside of drawing that chart for a year or two, I never got too involved with the market until I landed an internship while I was a student at Fordham University. That internship was on a trading desk where I caught the trading bug. 

Back then it was the yelling and screaming with constant action – I thought that was euphoric. I parlayed that experience into a job on the floor of the NYSE. Talk about euphoric!! 

I spent my early years as a clerk running errands and learning the ropes from the savvy veterans in a kill-or-be-killed environment. However, it wasn’t always being the loudest or biggest that thrived – although my loud mouth never hurt. 

Photo credit: Richard Drew, Associated Press  

My firm, Spear, Leeds & Kellogg, made it mandatory that all NYSE staff take an introductory class on technical analysis. Of course that teacher was none other than Uncle Ralph. He taught my colleagues, in fact, he taught the entire street. I had already taken the class once before, but my firm hired him to personally teach all of us.  

Then I took Alan Shaw’s class for level 2. I had no idea at the time that these classes from two of the founders of CMT Association (then called MTA) would change my life. 

The charts gave me an edge. As the human element became less and less, there were fewer personalities to get information from so I studied price action more. I tried to find a system that worked best for me. My go to indicators were MACD and RSI. I also focused on moves by studying multiple time frames for perspective. 

While I will never claim to be the best trader on the floor, my ability to remain viable throughout the mass layoffs during the financial crisis had a lot to do with my ability to manage risk and consistently make money.  

Post-financial crisis, the floor became mostly electronic. I had free time as algos did most of my work. A few CMTs, namely J.C. Parets and Mark Newton, got in my ear and inspired me to get my CMT designation. Technical analysis was something I used all my life, but I never felt the need to get the designation. I worked for Goldman. I was successful on the floor. Why would I need this? 

Well I am thankful for that push. The curriculum helped me hone my skills and continue to grow my knowledge base. My role wasn’t only to trade but to talk about trading activity with my listed companies. I started incorporating technicals to paint a better picture to describe day-to-day price movement and relayed that back to C-Suite executives at Fortune 500 companies. It was well received and gave me another use for the technicals that my competitors didn’t utilize.  

As my career evolved, I started getting more and more involved with CMT Association. I got my designation in 2017 and started speaking at events. I met a plethora of influential people within the organization and grew a network of friends who I respect and continue to learn from.  

It was that involvement that helped me pivot. After COVID I left the trading smock behind and became an analyst who dissected market moves and talked about trading activity. It was an unexpected twist, but one I love. Now you can see me from time to time on most of the major financial networks talking about the market and breaking down the technicals.  

I also joined the Board at CMT Association after COVID. As a Board member my goal is to enhance the educational platform and networking offerings to all our members. I want us to get into the community, share ideas, and hear more of the younger voices within the industry. 

The connections I have made through CMT Association are unparalleled. I am always learning and honing my skills. In fact, I now get to teach some of those skills at Fordham University which proudly added technical analysis to their graduate curriculum offering.  

In lesson one to my class, I teach that price is fact, earnings are estimates, and that the most important skill you need to be successful in the financial industry is to be able to manage risk. For my money there’s no better tool to help you manage that risk than technical analysis. 

Behind the Charts: Curating the Journal of Technical Analysis

My career in finance has taken me across both the industry and the classroom, giving me a rare vantage point into the world of markets, analytics, and investor behavior. Early in my professional journey, I worked on asset allocation and portfolio management, where I quickly discovered the power—and limitations—of models grounded in pure fundamentals. Like many practitioners, I found myself increasingly drawn to technical analysis as a complementary discipline—one that could enhance timing and risk control. That interest eventually evolved into a vocation. 

Since 2010, I have had the privilege of teaching a full-semester course on technical analysis at the Walton College of Business at the University of Arkansas, where I am a finance faculty member. Over the years, my students have not only embraced the analytical tools of the discipline but have excelled at applying them in practice. Several Walton finance students have taken top honors in the CMT Investment Challenge demonstrating that a solid technical framework can lead to impressive real-world performance when paired with disciplined thinking and rigorous application. 

My academic and practitioner experience naturally led me to the Journal of Technical Analysis (JoTA), where I now serve as Chair of the Editorial Committee. The journal is the peer-reviewed research publication of CMT Association, and our mission is clear: to advance the understanding and credibility of technical analysis through rigorous, well-documented scholarship. 

Putting together each issue of JoTA is a meticulous, multi-month endeavor that requires coordination, subject matter expertise, and an unwavering commitment to quality. Our process begins with an open call for papers. Submissions come in from all over the world—professors, market practitioners, and doctoral students alike. Topics range from momentum-based strategies and behavioral biases to statistical testing of chart patterns and innovations in machine learning applications. 

Each paper is first screened for scope, relevance, and baseline quality. Submissions that meet our standards are assigned to anonymous peer reviewers, typically experts in technical analysis principles, quantitative finance, and statistical analysis. We use a double-blind review process to eliminate bias: authors don’t know who is reviewing them, and reviewers don’t know the identity of the authors. 

Peer reviewers provide detailed comments on the paper’s methodology, statistical rigor, data reliability, and practical implications. Some submissions are accepted with minor revisions, while others may go through multiple rounds of revision—or be declined if the research falls short of our criteria for publication. As chair, I work with the editorial committee to synthesize feedback, ensure consistency across evaluations, and communicate our decisions to authors in a constructive, transparent way. 

Once accepted, a paper moves into production—copyediting, layout design, and final proofing. It is at this stage that academic rigor is balanced with readability. While our primary audience includes technical analysts and academics, we also aim to make the journal accessible to serious market participants seeking to apply the research. 

What makes JoTA unique is that it bridges theory and practice. Many academic journals remain detached from the realities of trading and portfolio management, but JoTA thrives in the space where academic precision meets market pragmatism. That, to me, is the future of technical analysis—grounded in evidence, validated by peer review, and tested in the marketplace. 

Each issue of the journal reflects the work of many hands—authors, reviewers, committee members, and CMT Association’s dedicated staff. But most of all, it reflects a shared belief that markets are not only data-driven but human-driven, and that technical analysis—when held to a high standard—offers essential insights into both. 

As we look ahead to future volumes, I invite both academics and practitioners alike to contribute to this evolving conversation. The journal is not just a publication; it is a community of inquiry, and there is always room at the table for those who seek to understand markets more deeply. 

2025 CMT Global Investment Summit: A Sneak Peek into the Future of Investing

As global markets enter a period of profound structural change driven by shifting macroeconomic regimes, rapid innovation in digital finance, and ongoing geopolitical volatility, the need for disciplined, repeatable, and research-driven investment processes has never been greater. 

To meet this moment, CMT Association is proud to present its most ambitious event yet: the 2025 CMT Global Investment Summit, taking place from September 30th to October 2nd in Dubai, United Arab Emirates. Set in the awe-inspiring Museum of the Future and launched in partnership with the DIFC Academy, this landmark summit will gather 250+ fund managers, strategists, traders, and thought leaders from across the globe to explore what lies ahead for capital markets—and how we as practitioners must evolve to meet it. 

Looking Back: The 2024 Dubai Summit

Our inaugural summit in Dubai and our first ever global conference, held on February 29th, 2024, marked a turning point for the Association’s global expansion into the GCC region. Hosted at the iconic Museum of the Future, the event was nothing short of transformative. With over 250 attendees from across the world, the 2024 Summit featured high profile presentations from legendary voices like John Bollinger, Gina Martin Adams, Julius de Kempenaer, and many more. 

Discussions spanned from global equities and intermarket analysis to crypto-assets and cross-asset momentum, offering attendees a comprehensive view of market behaviour during a time of great transition. Perhaps most notably, the summit catalysed a strategic partnership between CMT Association and DIFC Academy, laying the groundwork for a regional technical analysis curriculum and enhancing Dubai’s role as a future-forward financial education hub. 

This historic gathering didn’t just celebrate our legacy it established a new frontier for the discipline. 

Here’s a quick recap of the 2024 meeting:

2024 CMT Summit Highlights Reel:

 

CMT & DIFC Academy Partnership:

Setting the Stage: About the 2025 Global Investment Summit 

The 2025 CMT Global Investment Summit is more than just a conference, it’s a defining moment in the evolution of technical analysis and global finance. Taking place from September 30th to October 2nd in Dubai, UAE, this flagship event sets the stage for charting the future of investing through data-driven decision-making and disciplined strategy. 

Set inside the iconic Museum of the Future, the summit will convene over 250 professionals from across the financial spectrum – hedge fund managers, institutional allocators, Chief Investment Officers, prop traders, strategists, and market researchers. Each participant shares a common goal: to harness the power of technical analysis in navigating today’s increasingly complex markets.

The 2025 agenda has been thoughtfully designed to blend foundational education, macro context, and advanced strategy across three powerful days. From technical workshops on momentum and money flow to high-level panels on digital assets, energy markets, and global macro shifts, the Summit offers actionable insights across asset classes, geographies, and timeframes.

Above all, the 2025 Summit sets the stage for clarity amidst volatility, discipline amidst noise, and community amidst fragmentation, hallmarks of every CMT Association event. It is where the message of the market is decoded, and where the next chapter of global investing begins.

From Foundation to Forecast: Breaking Down the 2025 Agenda

This year’s summit builds directly on the momentum 2024 brought, offering even greater access to cutting edge insights, expert faculty, and the tools needed to navigate uncertainty in real-time.

 

September 30th – Foundations Day @ DIFC Academy 

The Summit opens with a full-day technical primer, offering attendees a practical toolkit to better engage with advanced content throughout the week. Sessions will unpack essential topics drawn directly from the CMT Program curriculum, including: 

      • Trend Identification & Relative Strength 
      • Momentum Indicators 
      • Volume & Money Flow Analysis 
      • Market Breadth Tools 
      • Volatility as a Signal 
      • Seasonality & Cycles 
      • Risk Management Frameworks 

Ideal for both experienced analysts and those newer to technical approaches, these workshops provide a shared language for understanding market structure and decision-making frameworks rooted in data. 

October 1st & 2nd – Strategy Sessions @ Museum of the Future 

The core of the Summit features two days of thematic exploration, each structured around four critical market forces shaping portfolios in 2025: 

      1. Global Commodities & the Energy Transition

From crude oil and natural gas to lithium and rare earths, we’ll examine how commodity flows are being reshaped by climate mandates, emerging economies, and infrastructure cycles.

Technical takeaway: How to trade macro themes through relative strength, intermarket signals, and volatility regimes. 

      1. Digital Assets & Decentralized Finance

The digital asset space has matured beyond speculation, integrating into institutional portfolios and national monetary frameworks. This segment will explore infrastructure, tokenomics, and regulatory shifts.

Technical takeaway: Understanding market behavior in low-liquidity, high-volatility assets through price action and volume-based signals. 

      1. Treasury Rates & Fiat Currencies in Global Reordering

With sovereign debt markets in flux and policy divergence at record levels, understanding fiat strength, currency volatility, and bond-equity correlations is vital.

Technical takeaway: Applying momentum, moving average systems, and intermarket relationships to manage duration and currency risk. 

      1. Equity Allocations: Valuation Meets Momentum

Whether it’s long-only mandates or tactical overlays, equity managers are seeking ways to align traditional valuation frameworks with modern, rules-based systems.

Technical takeaway: Leveraging factor rotation, sector leadership, and behavioural trends through momentum overlays and relative strength tools. 

Each theme kicks off with a panel discussion of policy, structure, and secular trends, followed by technical strategy sessions that answer one crucial question:
“How do we react responsibly to this information?” 

Why CMT Events Stand Apart 

CMT Association events are globally recognized as the premier forums for investment research rooted in technical analysis. What sets these summits apart is a relentless commitment to educational rigor, evidence-based strategies, and practical implementation. These aren’t marketing expos or product showcases, they are learning environments, built by and for professionals dedicated to mastering the craft of market analysis. 

From Tokyo to New York, London to Mumbai, and now Dubai, CMT summits have consistently provided a platform for top portfolio managers, proprietary traders, institutional allocators, and research heads to connect, share, and innovate. 

One of the most remarkable testaments to the quality of content at CMT events is the scene that repeats itself every year, market legends and authors of seminal work and pioneers of the field staying after their own presentations, notebook in hand, taking notes and asking questions. At CMT events, learning never stops no matter how experienced you are. 

 

 

 

 

 

Attendees value these gatherings for: 

      • High-Impact Learning: No fluff, just actionable insight from peers and pioneers. 
      • Unmatched Networking: Build real relationships with global institutions and boutique innovators alike. 
      • Global Community: Join a growing movement to elevate the standards of technical analysis worldwide. 

Here’s what a few of our key guests had to say: 

“This is a can’t-miss event. In addition to hearing from industry rockstars, networking with others who ‘speak the language’ it’s a rare opportunity to improve my own game when it comes to Technical Analysis.” 

— Dr. Kelly Corbiere, CMT, CFA, CFP

“The annual CMT events are a lot of fun! It is a very humbling and exciting experience to get to interact with the legends of our field. Last year I was asked to be a speaker and was nervous to stand in front of legends, but everyone was so encouraging and gracious.”
Vernon Bice, CMT 

“I look forward to the Symposium more than anything else. It’s an opportunity to hear about what the organization is up to, learn about new techniques and applications in the field of technical analysis, and catch up with colleagues.” 

David Lundgren, CMT, CFA

At the heart of every CMT event is a simple but powerful truth: markets evolve, and so must we. Join us where the future of finance is not just discussed but defined. 

Sponsorship Opportunities

Whether you’re showcasing a new product, advancing thought leadership, or deepening your regional impact, there’s no better platform.

      • Global Visibility: Connect with over 250 leading finance professionals worldwide.
      • Showcase Your Expertise: Affirm your leadership in technical analysis and market strategy.
      • Strengthen Regional Impact: Position your brand as a key contributor to market education in the GCC.
      • Powerful Promotion: Benefit from logo exposure, targeted emails, and sponsored content in Technically Speaking.

Exclusive Networking: Complimentary access to sessions, keynotes, and networking events for your team.

Explore Sponsorship Options Here

Join Us. Shape the Future of Investing

This isn’t just another conference, it’s a defining moment for the global investment community. The 2025 CMT Global Investment Summit in Dubai is where the brightest minds in finance gather to challenge conventional thinking, unlock powerful new strategies, and redefine what’s possible with technical analysis. 

Whether you’re managing institutional capital, building systematic models, or shaping macro strategy, this is your arena. You’ll walk away with more than just insights. You’ll gain a renewed sense of clarity, a network of global peers, and a framework to navigate markets with confidence. 

Be where the action is. Be where the future is built. 

September 30 – October 2, 2025 | Dubai, UAE

Visit https://cmtassociation.org/conference/global-investment-summit/ for early registration, speaker announcements, and exclusive content.

Advance Your Career, Create Connections, Become a Legend

The time has never been better to apply for Professional membership at CMT Association. Our new membership page details the many benefits of being a member. Helpful videos on the page both explain and show you how to take full advantage of membership.

Is membership right for you? Professional membership is for investment professionals who meet the professional work experience requirements. You do not have to be a CMT candidate or complete the examination process to apply for Professional Membership. However, Professional Membership is a requirement, along with passing the CMT Program Level III exam, of anyone who wishes to use the CMT designation.  

Members gain immediate access to these and other benefits:  

  • Reference Library – The all-new, all-digital, official CMT Curriculum, including all future lesson updates and new modules as they are published. 
  • Career advancement and networking opportunities through regular interaction with other professionals. 
  • Industry-leading content from successful technicians using the concepts and strategies they teach every day. 

Wondering if you meet the requirements for approved professional work experience or how best to find three references? You’ll find answers to those questions and more on Professional Membership Requirements 

Already a member? You can help introduce friends and colleagues to the value of CMT Association membership by telling them how it has helped your career. Expanding our reach to new and younger members across the financial industry and across the globe is a key priority for us. Your encouragement of aspiring CMTs will help ensure our association flourishes, stays relevant, and continues to evolve for decades to come.  

Confidently refer to your status with CMT Association using this handy guide. At each step in the process, members and candidates have certain designated ways they are entitled to refer to their status. Note the criteria for each. You are welcome to send any questions to our Member and Candidate Services team at admin@cmtassociation.org.

CMT Association Singapore Chapter Event

On April 29th, the CMT Association Singapore Chapter hosted a dynamic in-person event at WeWork, bringing together a diverse group of professionals, market practitioners, and technical analysis enthusiasts.

We were proud to feature a strong lineup of local thought leaders, each offering unique perspectives on market strategy and innovation in technical analysis.

Richard Siaw, Director of ETF Strategy & Investment Advisory at Global X, kicked things off with a well-received presentation titled “Enhancing Theme Selection with a Market Momentum-Driven Approach.” Richard explored how integrating momentum factors with point-and-figure charting can provide a more disciplined framework for selecting and constructing thematic ETFs. His approach demonstrated how technical insights can be applied to capture long-term trends in a rapidly evolving investment landscape.

Next up, our very own Jake Damien Chow, CMT, Chapter Co-Chair, introduced his quantamental strategy—a powerful blend of quantitative screening techniques with traditional technical principles. His framework focuses on identifying high-probability, outperforming sectors. What made his session particularly exciting was the overlap in conclusions with Richard’s presentation—validating the robustness of these data-driven methods and highlighting the increasing convergence between systematic and technical approaches.

We were also privileged to hear from Joel Pannikot, Managing Director of the CMT Association and Head of APAC & Global Chapter Strategy. Joel shared a compelling update on the evolving landscape of technical analysis globally. He touched on how the Association is adapting to key shifts in the industry—especially around the impact of artificial intelligence, the growing interest in behavioral finance, and the importance of staying ahead of these trends through continuous learning and global collaboration.

After the presentations, we wrapped up with a group photo and an informal networking session. The cozy WeWork space provided the perfect backdrop for continued conversations, market debates, and community-building over light refreshments. Because really, no CMT Chapter event is complete without sharing insights on how the markets have been treating us lately!

A big thank you to Joel for hosting us and to all who attended. It’s inspiring to see this community grow stronger, more engaged, and more innovative with each session.

As we continue to foster a vibrant and engaged community, we encourage members who are keen to speak at future events or volunteer for the local chapter to step up. Member contributions are vital in strengthening the voice of Technical Analysis in Singapore’s finance industry and ensuring the success of our community initiatives. If you are interested in speaking or volunteering, please reach out to us at jake.chow@cgsi.com or isaaclzp@gmail.com. We look forward to your active participation and support.

Event Recap: “Trade with Insight” – Women Leading the Way in Technical Analysis and Strategy

Dubai, May 8, 2025 – the CMT Association, in partnership with FOREX.com, proudly hosted “Trade with Insight: Women Leading the Way in Technical Analysis & Strategy”, a closed-door session celebrating the growing influence of women in finance and championing technical analysis as a key tool for navigating today’s markets.

Held at FOREX.com’s Dubai office, the event brought together finance professionals for a morning of expert insights, interactive dialogue, and thought leadership — all through a technical lens.

Empowering Women, Elevating Markets

Headlining the session were two accomplished women in finance:

  • Razan Hilal, CMT, Market Analyst at FOREX.com
  • Yara Fanek, CFA, CMT, Independent FX Trader and Technical Strategist

Together, they delivered presentations and a fireside chat that blended real-world experience with practical insights. Their discussions emphasized the growing relevance of technical analysis in identifying opportunities, managing volatility, and navigating uncertainty — while also spotlighting female leadership and continuous education in the trading space.

Key Topics Covered

✔️ Today’s Market Realities: From currency safety to recession fears, attendees examined pressing questions around macro uncertainty and market sentiment.

✔️ Trader Pitfalls: Emotional mistakes like panic-selling, buying hype, and overexposure were addressed, along with techniques to stay disciplined under pressure.

✔️ Technical Tools in Action: Practical use of RSI, Fibonacci, and DMI to enhance market timing and decision-making.

✔️ Intermarket Insights: How correlations between oil, gold, VIX, and indices can provide early signals in shifting environments.

✔️ Risk Management & Mindset: Dow Theory, trend structure, and multi-timeframe analysis offered a framework for navigating volatility.

✔️ The CMT Edge: Highlighting the value of the CMT designation in building confidence, structure, and long-term analytical success.

“Markets often move ahead of the headlines — what we see in price reflects sentiment, positioning, and expectations long before the news breaks. That’s why technical analysis, combined with sound risk management, isn’t just helpful — it’s essential to making confident, well-timed decisions in today’s complex environment.”
— Razan Hilal, CMT

“Technical analysis isn’t just about charts — it’s about understanding behavior, recognizing patterns, and managing risk with discipline. The more you invest in continuous learning, the more confident and agile you become as a trader.”
— Yara Fanek, CFA, CMT

Fill The Gap with Gary Antonacci

Momentum remains one of the most persistent and powerful anomalies in financial markets. In this engaging fireside chat, recorded live at the West Coast Regional Summit in San Francisco, we sit down with Gary Antonacci, the renowned author of Dual Momentum Investing, to explore the evolution, application, and enduring effectiveness of momentum-based investment strategies.

Gary will share his insights on the science behind Dual Momentum, how it enhances traditional trend-following approaches, and the ways investors can apply these principles to achieve superior risk-adjusted returns. Whether you’re a practitioner of systematic investing, a trend-following enthusiast, or simply curious about momentum’s role in portfolio management, this conversation will offer valuable perspectives from one of the field’s leading experts.

Click Here to listen the episode!

CMT Exams: June Test Prep and December Registration

CMT candidates, the June exams are fast approaching! Level I and Level II exams are available from June 10 through June 26, and the Level III exam is June 12. If you have not scheduled your exam time with Prometric, please do so as soon as possible. Test centers have limited capacity, so you are more likely to get your preferred time if you schedule sooner. We wish you the best of luck with your exam! Reach out to admin@cmtassociation.org if you need assistance. 

You might have mixed feelings about how prepared you are for your exam. What we want is for everyone to be excited about the opportunity, not overwhelmed about the material. There’s still time to prepare for your exam, even if you’ve had limited time for studying up until now. 

So, we reached out to our Exam Prep Providers to see if they would be willing to send over something special to help our June 2025 candidates be successful on their upcoming exams. 

Free Courses And Resources From Optuma

Optuma has been helping candidates prepare for their CMT exams since 1996. Thousands of candidates have relied on them to prepare. In this period while they are updating their courses for the new curriculum, you can get access to their courses for free (you do have to be registered for the exam to get access). 

If you need access but did not receive an email from Optuma – and you are registered for the exam – please email support@optuma.com. 

The team at Optuma have spent the past few months combing through the new curriculum and learning objectives to build three practice exams that you can take right now. Practice exams are the ultimate way to be confident that you have locked in all the knowledge that you need to pass the exam. 

When you sign up to Optuma Exam Essentials, you also get access to a private forum where Optuma’s CMT staff can help you with any questions you have on the curriculum. 

Finally, the Optuma Exam Essentials also includes access to specially trained AI bots that have been trained on the new curriculum. Don’t risk getting wrong answers from more generic AI bots like ChatGPT.

Accelerated Cram Course, and a special message from Gordon Scott, CMT

Special message from Gordon Scott, CMT, plus an exclusive offer on his Accelerated Study Program to help you pass your CMT Level I exam! 

“Dear Level I Candidate, 

“Feeling nervous that you are not prepared for your first CMT exam? That’s a normal feeling for many right now. But don’t worry, CMT Association has some useful information for new Level I candidates. I hope this will help calm your fears so you can gain the confidence you need to ace the exam. 

“This information will help you overcome the very real challenges you face, and take advantage of the big opportunity ahead. Let me clue you in on a well-kept secret. Right now is the best time to be taking the CMT Level I Exam in the history of the program. No kidding. If you signed up to take the exam this June, you’ve already shown excellent market timing because there are new resources being made available to you that no other candidates have had in the history of the program. Let me explain. 

“The Challenge You Face –  Fact: just over half of the CMT Curriculum has been newly written or revised to be up-to-date based on a recent analysis of the financial industry. In years past, the curriculum typically hasn’t changed by more than twenty percent. While a new curriculum represents a challenge for test takers, this time around it also brings great news: the quality has never been better! These new chapters, authored by professionals currently working in the industry, are highly relevant to today’s markets. From a practical perspective there are two consequences of so much new content…” Continue Reading 

Missed June Registration? Register for December!

If you plan to enroll for the December exams, registration is open as of Monday, May 19. We recommend that you register as early as possible to take advantage of the early registration price to save $200. It also allows you to maximize the time you have access to the online curriculum to best prepare for the exam!

CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with the future of your professional community

CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with the future of your professional community.

You are cordially invited to participate in the 2025 Annual Membership Meeting of CMT Association, taking place on Wednesday, 25 June 2025, at 10:00 AM Eastern Time via video conference.

This annual gathering is a pivotal opportunity for members to connect with CMT Association leadership, engage in important governance matters, and hear firsthand about the strategic direction of CMT Association for the year ahead.

Why Attend?

At this year’s Annual Meeting, you will:

  • Hear firsthand about the state of the association and key initiatives.
  • Learn about the strategic priorities and projects shaping the future of CMT Association and the global technical analysis community.
  • Celebrate the announcement of election results for the Board of Directors and Executive Officers.
  • Engage in important governance decisions that support the continued strength and credibility of your professional community.
  • Stay connected to your global network of technical analysts and members committed to advancing the discipline.

We encourage all members and candidates to attend and be part of this essential annual tradition. Preliminary agenda below.

Electing Future Leaders

Online proxy voting for the Annual Meeting is now open and will remain available through 23 June 2025. Active Professional, Emeritus, and Honorary members of CMT Association are requested to cast their proxy ballot electronically by clicking here. Simply log in with your MyCMT credentials to vote.

Please Join us at the 2025 Annual Membership Meeting

Preliminary Agenda

Date: Wednesday, 25 June 2025
Time: 10:00 AM EDT
Location: Virtual meeting hosted on GoToWebinar. Register today by clicking here.

ORDER OF BUSINESS

1. Reports from CMT Association Leadership

  • Rob Palladino, CMT, President
  • Tyler Wood, CMT, CEO & Executive Director
  • John Kolovos, CMT, CFA, Vice President

2. Election of CMT Association Directors for Fiscal Year Starting 1 July 2025

In accordance with the CMT Association Constitution, the Governance Committee presents the following slate of candidates for Director at Large to serve a 3-year term beginning 1 July 2025:

  • Janine Guenther, CMT, CFA
  • Damanick Dantes, CMT
  • Mohit Handa, CMT
  • Cedric Thompson, CMT, CFA

3. Election of CMT Association Officers for Fiscal Year Starting 1 July 2025

In accordance with the CMT Association Constitution, the Governance Committee presents the following slate of candidates for Executive Officer to serve a 1-year term beginning 1 July 2025. Members are asked to vote “YES,” “NO,” or “ABSTAIN” for the recommended slate:

  • President: John Kolovos, CMT, CFA
  • Vice President: Kelly Corbiere, CMT, CFA, CFP®
  • Treasurer: Eric Caisse, CMT, CFA, CFP®
  • Secretary: Gina Martin Adams, CMT, CFA

4. Renewal of 3-Year Term

In accordance with the CMT Association Constitution, the Governance Committee presents the following current directors for a renewal of their 3-year term. Members are asked to vote “YES,” “NO,” or “ABSTAIN” for the recommended slate:

  • Gina Martin Adams, CMT, CFA
  • Ananda Bhaumik, CMT, CTP
  • John Kolovos, CMT, CFA
  • Jay Woods, CMT

5. New Business

6. Adjournment

The Annual Meeting is open to all members and candidates of CMT Association. We encourage your participation.

Congratulations to our 21 New Chartered Market Technicians!

We are thrilled to announce the achievement of 21 individuals who have recently earned their Chartered Market Technician (CMT) designation. This prestigious accomplishment signifies a remarkable dedication to the field of technical analysis and investment strategy.

The Chartered Market Technician (CMT) designation is a globally recognized certification awarded by CMT Association. It reflects a deep understanding of market dynamics, proficiency in technical analysis, and a commitment to upholding the highest standards of professional conduct.

These newly certified individuals have demonstrated their expertise in interpreting market trends, identifying patterns, and making informed investment decisions based on rigorous analysis. Their attainment of the CMT designation underscores their commitment to excellence and distinguishes them as leaders in the financial industry.

In an ever-evolving market landscape, the expertise provided by Chartered Market Technicians is invaluable. Their proficiency in analyzing market data and identifying emerging trends equips them to navigate complex financial markets with confidence and precision.

We extend our heartfelt congratulations to these 21 individuals on their remarkable achievement. Their dedication, perseverance, and expertise serve as a testament to the significance of the Chartered Market Technician (CMT) designation in today’s financial world.

Please join us in celebrating their success and wishing them continued excellence in their careers as Chartered Market Technicians.

1. Ramasubramaniam Barathy

2. Nilanjan Dutta Roy

3. Nikhil Gayam

4. Ryder Harris

5. Bradley Huffman

6. Glenn Koh

7. Dario Latessa

8. William Lorton

9. Collin McAvoy

10. Yash Modani

11. Matei Oprea

12. Alexis Rodriguez Leon

13. Anthony Rose

14. Adam Schneider

15. Lucas Schwalbe

16. Daniel Seet

17. Chester Srp

18. Randall Thomas

19. Iray Thomas-Maurice

20. Fei Wang

21. Lixiao Yang

What's inside...

Letter from Board Member Jay Woods, CMT

Letter from Board Member Jay Woods, CMT
Contributor(s):
Jay Woods, CMT
In my three plus decades on Wall Street, I have had a front row seat
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Behind the Charts: Curating the Journal of Technical Analysis

Behind the Charts: Curating the Journal of Technical Analysis
My career in finance has taken me across both the industry and the classroom, giving
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2025 CMT Global Investment Summit: A Sneak Peek into the Future of Investing

2025 CMT Global Investment Summit: A Sneak Peek into the Future of Investing
Contributor(s):
Kaizad Marolia, CMT
As global markets enter a period of profound structural change driven by shifting macroeconomic regimes,
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Advance Your Career, Create Connections, Become a Legend

Advance Your Career, Create Connections, Become a Legend
Contributor(s):
Heather Higgins
The time has never been better to apply for Professional membership at CMT Association. Our
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CMT Association Singapore Chapter Event

CMT Association Singapore Chapter Event
Contributor(s):
Jake Damien Chow, CMT
On April 29th, the CMT Association Singapore Chapter hosted a dynamic in-person event at WeWork,
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Event Recap: “Trade with Insight” – Women Leading the Way in Technical Analysis and Strategy

Event Recap: “Trade with Insight” – Women Leading the Way in Technical Analysis and Strategy
Contributor(s):
Razan Hilal, CMT
Contributor(s):
Yara Fanek, CFA, CMT
Dubai, May 8, 2025 – the CMT Association, in partnership with FOREX.com, proudly hosted “Trade with
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Fill The Gap with Gary Antonacci

Fill The Gap with Gary Antonacci
Contributor(s):
Gary Antonacci
Contributor(s):
Tyler Wood, CMT
Momentum remains one of the most persistent and powerful anomalies in financial markets. In this
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Keep an Eye out for Upcoming Webcasts!

Keep an Eye out for Upcoming Webcasts!
Contributor(s):
Matt Lutey, PhD
Contributor(s):
Gordon Scott, CMT
Read More

CMT Exams: June Test Prep and December Registration

CMT Exams: June Test Prep and December Registration
Contributor(s):
Mike Rickert
CMT candidates, the June exams are fast approaching! Level I and Level II exams are
Read More

CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with the future of your professional community

CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with the future of your professional community
Contributor(s):
Tyler Wood, CMT
CMT Association’s Annual Membership Meeting is your opportunity to stay informed, connected, and engaged with
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Congratulations to our 21 New Chartered Market Technicians!

Congratulations to our 21 New Chartered Market Technicians!
Contributor(s):
Barbara Terry
We are thrilled to announce the achievement of 21 individuals who have recently earned their
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