As the leaves finally turn here in the New York area, the stock market has once again reached new highs, at least according to the big indices. But just when you stopped looking, the Russell clawed back to the top of its year-long range and the NYSE composite – the average Joe index – is at a two-year high.
Could it be that the converse to “sell in May” is finally going to work? The answer is, of course, who knows? The usual suspects still hold us hostage: China and the Fed. The latter seems to be on hold after the last rate hike.
There are a few things of note, namely the resurgence of retail stocks and banks. The dollar may be breaking down, too. Copper may still be comatose, but look at platinum soar!
This month in Technically Speaking, we’ve got part two of Bruno DiGiorgi’s History of Wall Street and a twist on an old, less-well-known indicator by David Steckler. New York and Minnesota Chapters weigh in with speaker reviews, and our member interview is with Ken Tower, CMT, a past president of the Association.
We’ve also got a similar interview with CMT Association Executive Director Alvin Kressler. It is easy to think of him as just an administrator, but when you look at his career, he is truly one of us.
Of course, we’ve got Association news, including the announcement of 27 new CMTs.
If you’ve got a book out, let us know so we can tell everyone. Also, if you are hiring technicians, we can post that here.
And as usual, I ask members to submit articles they’ve written (not forecasts but methods) or write something new to share your knowledge with the group. If you are new, this is a great way to develop your chops as an analyst and a writer.
Michael Kahn, CMT
CMT Association Asia Pacific: the APAC Auspicious Golden Cross! I hope this brief note finds you well and prospering in your markets. Excuse my liberties with the term “APAC Golden Cross”...
The PopStecklerby David Steckler
Many equity traders strive to identify stocks that are ready to break out and begin a sustained move higher in price. The difficulty lies in identifying which stocks are setting up to break out and...
New York Chapter Speaker Reviewby Tom Bruni, CMT
On Tuesday, October 22nd, the New York Chapter hosted Sam Stovall, Chief Investment Strategist at CFRA Research. Sam’s presentation was entitled “The Rules Rule! – Rules-Based ETF...
The History of Wall Streetby Bruno DiGiorgi
This is the second installment of a rerun of periodic series chronicling the history of the street. The series originally ran in Technically Speaking beginning in September 2000. Last month, I noted...
Minnesota Chapter Speaker Reviewby Mahesh Johari, CFA
The Minneapolis chapter hosted Dave Keller, CMT, Chief Market Strategist of StockCharts.com, as our October 2019 guest speaker. Dave started his career at Bloomberg and later moved to Fidelity...
Interview with the Executive Director – Alvin Kresslerby Alvin Kressler
Please tell us what you do professionally. Currently I am the Executive Director and CEO for the CMT Association. How did you get there? I started my career on Wall Street on the buy-side in Chicago...
Northern Ohio Chapter Speaker Reviewby Patrick McKenna
J.C. Parets, founder of All Star Charts, visited the Northern Ohio Chapter of the CMT association last month and gave a tremendous presentation full of charts, charisma, and good old-fashioned...
Member Interview – Ken Towerby Ken Tower, CMT
Please tell us what you do professionally. I run a small 40-year-old research firm focused on price momentum covering all major asset classes. Our clients are hedge fund managers, mutual fund...
Charles H. Dow Awardby Chelsey Clevenger
The submission window is now open! The 2020 Dow Award, which highlights outstanding research in technical analysis, is currently accepting submissions! Since its first year in 1994, the Award has...
Members in the Mediaby Walter Deemer
Gathering his insights from a five-decade career, Walter Deemer published a book titled, “When the Time Comes to Buy, You Won’t Want To.” The name derives from a 1970’s incident at Putnam...
Job Postingsby Marianna Tessello
Live Seminar Presenter/Instructor VantagePoint A.I. – Tampa, Florida If you’re a presenter capable of helping people gain knowledge about the financial markets including: Stocks, Options, Futures...
Membership Newsby Marie Penza
Members on the Move The CMT Association would like to congratulate the following members on their new positions: Rohit Mandhotra, CMT, CFTe, Financial Products at Bloomberg LP Michael Mobley,...
David Steckler spent 24 years as an investment advisor and portfolio manager for individuals, families, and small businesses before his retirement in 2011. A former professor of business at a university in Missouri, he also was a member and past president of the American...
Tom Bruni, CMT
Tom Bruni, CMT is a Technical Analyst at All Star Charts and the founder of BruniCharting. In May 2016 Tom graduated Magna Cum Laude from Molloy College's Business Honors Program where he spent the majority of his four years exploring career paths in the fields of Accounting and...
Mahesh Johari, CFA
Mahesh Johari is an independent investor based in the Minneapolis area. He holds degress in mathematics and economics from the University of Illinois and the University of
Alvin Kressler is Executive Director & CEO of the CMT Association. Alvin was previously Director of Research and Corporate Access at Bloomberg Tradebook. Before joining Bloomberg, he was the Executive Director of The New York Society of Security Analysts (NYSSA). At...
Ken Tower, CMT
Ken Tower, who holds the Chartered Market Technician (CMT) designation, is the CEO of Quantitative Analysis Service, Inc (QAS). Ken joined QAS in 2008 after a brief foray into asset management and five years as chief market strategist with Charles Schwab & Company’s...
Chelsey Clevenger is the former Member Services Coordinator for the CMT
Walter Deemer is a founding member and past president of the CMT Association who began his Wall Street career in July 1963 as a Merrill Lynch research trainee. In April 1964, Walter moved to Merrill Lynch's Market Analysis Department, where he worked under Bob Farrell, and was a...
Marianna Tessello served as the CMT Association's digital producer from 2018 until 2021. She was responsible for the management of most of the association's front-end digital assets during that time, including social media production, current website information and updates, and...
Marie Penza serves as the Director of Member Services for the CMT
New Educational Content This Month
March 24, 2023
CMT Level III Informational Session
Presenter(s): Stanley Dash, CMT, Tyler Wood, CMT
March 15, 2023
Why the Dow Theory? Multimarket application, Outperformance, Drawdown reduction, and a 120+ years record
Presenter(s): Manuel Blay
March 8, 2023
Money and the Fork in the Road for the Year Ahead
Presenter(s): Brendan McCarty, CMT