Deadline for entry – December 2, 2020 In 1994 the CMT Association established the Charles H. Dow award to highlight outstanding research in technical analysis. The Award has received over 160 submissions, and recognized 23 papers for their excellence. Of the more than two dozen authors/coauthors who have won, eight have gone on to publish books based on their submissions. Winners have presented at the CMT Association’s Annual Symposium, local chapter meetings, and participated in CMT Association podcasts and/or educational web-series. The Award carries a prize of $5,000 and is presented at the CMT Association’s Annual Symposium held in New York City each April. This month, Chris Diodato, winner of the 2019 Dow Award, shares his experience: My paper, Making the Most of Panic, was the 2019 winner of the Charles H. Dow Award.  Simply put, winning the award was life-changing for me.  Like most technicians, I was largely self-taught and struggled,

I’m extremely pleased that the latest paper I co-authored alongside my friends David Dierking and Matthew Bowler, “Actively Using Passive Sectors to Generate Alpha Using the VIX,” was declared the winner of the NAAIM 2020 Founders Award for Advances in Active Investment Management and a Finalist for the 2020 Dow Award. It topped nearly 30 other entries and became the 5th award-winning paper I’ve co-authored over the past several years. This one is a little different than the prior four papers I’ve co-authored. The risk signals I follow and publish weekly for Lead-Lag Report subscribers (www.leadlagreport.com) look at intermarket behavior to determine whether you should be positioned risk-on or risk-off in response to market conditions. The VIX paper doesn’t designate between risk-on and risk-off, although it does propose three different trading strategies based on optimized VIX levels and publishes their results. Some of the sector rotation strategies we tested produced compelling

Featured speaker Lindsey Bell presented “Investing in 2021 – now what?” to the Minneapolis chapter on Oct 20th via webcast. Lindsey is the Chief Investment Strategist at Ally Invest. Ally Invest is the former TradeKing online broker, that now offers managed portfolios, self-directed trading, and automated investing. Lindsey discussed current market conditions and laid out the risks and offsetting factors. The risk she sees are: 1) stimulus stalemate, 2) election risk, 3) slowing economic data, 4) COVID-19, and 5) vaccine timing. The offsetting factors helping to mitigate these risks are: 1) monetary stimulus 2) resilient consumers, 3) demographic trends, 4) improving 10-year yields, and 5) easing financial conditions. Where do we go from here? The S&P 500 rebounded from bear market territory at the second fastest pace ever. Lindsey discussed the following points: State of the markets: Valuations remain elevated as the S&P 500 forward P/E is trading at 23.6x vs historic average

Many industries have been crippled by quarantine lockdowns. As financial market professionals, we are fortunate that our daily work can largely be performed online. Global indices saw a dramatic crash in the first quarter of 2020, followed immediately by a surge in equities much sharper than most pundits expected. Veteran analysts and money managers remembered the shocks of 2008, 2001, and even 1987, and looked to history for important corollaries. Yet most young professionals learned firsthand why veterans respect the markets and never fight the tape. We know from the demand for education and programming in the technical analysis arena, individuals and even firms without strong risk management tools found this period punishing. Against this backdrop, “Navigating the Unthinkable” became the theme for the 2020 India Virtual Summit of the CMT Association, held on the 10th and 11th of October. This theme had many layers. Speakers addressed unprecedented central bank intervention,

Members on the Move The CMT Association would like to congratulate the following member on his new position: Manav Chopra, CMT, Vice President at Kotak Securities- Institutional Equities Once again, we are requesting that members update their personal information; major corporations are requesting CMT charter holder information for their employees and we cannot give the correct information if your company is not listed. Please make sure your profile information is completely filled out, including your place of employment and your mailing address. CMT The exams are less than a month away. If you haven’t scheduled your exam, be sure to do it right away.  Not only can you take the exam at a test center, but the CMT Association now offers online exams through Prometric’s Remote Proctoring.  For remote proctoring, at the Prometric website, under Option 2 select Schedule; if you have already scheduled for a test center but now prefer to take the exam