Technically Speaking, November 2019

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

Editor

What's Inside...

President’s Letter

CMT Association Asia Pacific: the APAC Auspicious Golden Cross!

I hope this brief note finds you well and prospering in...

Read More

The PopSteckler

Many equity traders strive to identify stocks that are ready to break out and begin a sustained move higher in...

Read More

New York Chapter Speaker Review

On Tuesday, October 22nd, the New York Chapter hosted Sam...

Read More

The History of Wall Street

This is the second installment of a rerun of periodic series chronicling the history of the street. The series originally...

Read More

Minnesota Chapter Speaker Review

The Minneapolis chapter hosted Dave Keller, CMT, Chief Market Strategist of StockCharts.com, as our October 2019 guest speaker.  Dave started...

Read More

Interview with the Executive Director – Alvin Kressler

Please tell us what you do professionally.

Currently I am the Executive Director and CEO for the CMT Association.

How...

Read More

Northern Ohio Chapter Speaker Review

J.C. Parets, founder of All Star Charts, visited the Northern Ohio Chapter of the CMT association last month and gave...

Read More

Member Interview – Ken Tower

Please tell us what you do professionally.

I run a small 40-year-old research firm focused on price momentum covering...

Read More

Charles H. Dow Award

The submission window is now open!

The 2020 Dow Award, which highlights outstanding research in technical analysis, is currently accepting...

Read More

Members in the Media

Gathering his insights from a five-decade career, Walter Deemer published a book titled, “When the Time Comes to Buy, You...

Read More

Job Postings

Live Seminar Presenter/Instructor
VantagePoint A.I. – Tampa, Florida

If you’re a presenter capable of helping people gain knowledge about...

Read More

Membership News

Members on the Move

The CMT Association would like to congratulate the following members on their new positions:

  • Rohit...
Read More

President’s Letter

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” – but hear me out!

For the first time ever (in this current CMT exam administration) the number of APAC candidates has turned up and through the number of North American candidates –...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

The PopSteckler

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 determining when the breakout will occur.

One technique I like to use in identifying breakout setups is the Stochastic Pop.  This situation arises when the stochastic indicator goes above...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

David Steckler

David Steckler worked in the financial industry for 24 years, managing investment portfolios for institutional clients and hedge funds.  He retired in 2011.  His interest in technical analysis began in 1987 when he read William O’Neil’s book, “How to Make Money in...

New York Chapter Speaker Review

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 Rotation Strategies.” He covered the seven rules of Wall Street and practical ways to implement these age-old adages in the markets.

Stovall introduced the presentation...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

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...

The History of Wall Street

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 that the Dutch not only came up with the idea of selling part ownership in trading adventures in the form of stock, but that they were also responsible for making those shares...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

Bruno DiGiorgi

Minnesota Chapter Speaker Review

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 before he arrived at StockCharts.com.  David is also President and Chief Strategist at Sierra Alpha Research LLC.  Dave’s presentation was titled “Five Modes of Mindful Investors.”

The five modes of mindful investors presented were:

    ...
To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

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 Arizona.

Interview with the Executive Director – 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 at a long-only institutional equity manager, with a value orientation. I say value orientation, because when you look back at the process, it was really more of...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

Alvin Kressler

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 over...

Northern Ohio Chapter Speaker Review

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 technical analysis.  We were lucky enough to have Strategic Wealth Partners host the event, which enabled J.C. to deliver his timely, top-down analysis of global markets.  Overall, J.C. made a compelling case for being bullish on US equities and Europe,...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

Patrick McKenna

Bio Coming Soon

Member Interview – Ken Tower

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 managers, and corporate treasurers.

How did you get there?

I was lucky! Lucky that my junior year Portfolio Management & Securities Analysis class textbook had a chapter on technical analysis. Reading that...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

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 &...

Charles H. Dow Award

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 received over 160 submissions, and recognized 21 papers for their excellence. Of the winning researchers, eight have gone on to publish books based on their Charles H. Dow Award paper topic. The award carries...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

Chelsey Clevenger

Chelsey Clevenger is the former Member Services Coordinator for the CMT Association. 

Members in the Media

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 Investments.

At that time, when he headed up Putnam’s Market Analysis Department, the market started a correction. Fortunately, he had anticipated it. However, some of the perma-bull money managers, who were generally...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

Walter Deemer

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...

Job Postings

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 & Commodities, ETFs and have a passion for helping traders change their life through a deeper understand of technical analysis, we should talk. This is a paid engagement/consulting position.

www.VantagepointAI.com  has an opening for professional traders...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

Marianna Tessello

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 various communication...

Membership News

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, Co-Owner at Hidden Ridge Farm LLC
  • Adnan Younis, CFA, CMT, Chief Strategy Officer (CSO) at Data Whizz Academy
  • Michael Kahn, CMT, Technical Analyst at Lowry’s Research Corp.

If your membership is about to...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

Marie Penza

Marie Penza serves as the Director of Member Services for the CMT Association.