Technically Speaking, November 2020

Well, it is finally over! Or is it?

What is “it” anyway? It could be the pandemic, as on November 9 we got some excellent news on the vaccine front. Or it could be the election, which looks like a blue win but with a lot of legal challenges on the docket. Or maybe it was the end of ridiculously low T-bond rates? No, I don’t include any Fed changes in that one. Twitter? Zoom?

I’d go with all of the above, which was actually no answer.

So it goes as Halloween morphs into Thanksgiving. One thing is for sure: everyone cannot wait until 2021. Keep your extra hour of sleep as the clocks were changed back.

Fortunately, there is always something good happening in your Association. From a wildly successful India Summit to the upcoming Charles H. Dow Award competition to the next round of CMT exams, the CMT never sleeps. Our CMT Program enrollment numbers, including the cohort of candidates that had to postpone their exam in June, are up dramatically.

In this month’s edition of Technically Speaking, we have some good stuff, too. Our feature article is by Michaael Gayed, CFA, a two-time winner of the Dow Award, on market returns given the current level of the VIX. The result is actually against what we might think and that is what makes it valuable.

Ian McMillan, CMT is our member interview, the old faithful Minneapolis chapter is back with a speaker review, and we’ve got an announcement of the Reuters Investment Summit, for which the CMT Association is a sponsor.

Joel Pannikot gives us a taste of what to expect for the 2021 CMT Symposium, using the India Virtual Summit model to explain what the staff is changing about the Symposium and what’s staying the same.

And if you have been procrastinating, this is the last call to submit your paper for the next Dow Award with details inside. There is another entry from the photo archive and news from around the Association.

Enjoy! Just keep your pumpkin spice to yourself.

– Michael Kahn, Editor

What's Inside...

President’s Letter

Election Polling and Technical Analysis – Predict or Listen?

We have now come through our second U.S. election where the...

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Last Call for the Charles H. Dow Award 2021

Deadline for entry – December 2, 2020

In 1994 the CMT Association established the Charles H. Dow award to highlight...

Read More

CMT Program Grows Numbers In 2020, Looks Forward

Registration for the December CMT exam administration has drawn to a close. After postponing the June 2020 test administration due...

Read More

2020 NAAIM Founders Award Winning Paper: Actively Using Passive Sectors to Generate Alpha Using the VIX

I’m extremely pleased that the latest paper I co-authored alongside my friends David Dierking and Matthew Bowler, “Actively Using...

Read More

Reuters Events’ Investment Summit

The CMT Association is honored to serve as an educational sponsor of the Reuters Events’ Investment Summit held virtually on...

Read More

Minneapolis Chapter Meeting Review

Featured speaker Lindsey Bell presented “Investing in 2021 – now what?” to the Minneapolis chapter on Oct 20th via webcast....

Read More

Member Interview With Ian McMillan, CMT

Please tell us what you do professionally.

I am an analyst/co-portfolio manager at an RIA/wealth management firm in Wisconsin.

How...

Read More

India Summit Experience Informs 2021 Symposium Planning

Many industries have been crippled by quarantine lockdowns. As financial market professionals, we are fortunate that our daily work can...

Read More

CMT Photo Archive

This is the second installment in an occasional series revisiting the Association in pictures. With shelter-in-place orders reemerging throughout Europe...

Read More

Membership News

Members on the Move

The CMT Association would like to congratulate the following member on his new position:

Manav Chopra,...

Read More

President’s Letter

Election Polling and Technical Analysis – Predict or Listen?

We have now come through our second U.S. election where the professional pollsters were terribly wrong in both direction and magnitude. There wasn’t a “sweep,” and the predicted “blue wave” was more like a “light blue trickle.” How could they be so wrong? How could they be so confident and fail?

I believe the short...

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)

Last Call for the Charles H. Dow Award 2021

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...

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)

Christopher Diodato, CMT, CFA | 2019 Charles H. Dow Award Winner

Chris Diodato became a student of technical analysis at a young age, enrolling in the CMT program during his freshman year of college. Since then, he attained his CMT and CFA charters and worked in various research and portfolio management roles. Currently,...

CMT Program Grows Numbers In 2020, Looks Forward

Registration for the December CMT exam administration has drawn to a close. After postponing the June 2020 test administration due to the global pandemic, we have planned a hybrid testing setup for December, which includes offering CMT candidates the option to take the test remotely in their own workspace through Prometric’s Remote Proctor application or through Prometric in-person test center.

We are excited 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)

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...

2020 NAAIM Founders Award Winning Paper: Actively Using Passive Sectors to Generate Alpha Using the VIX

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...

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)

Michael Gayed, CFA

Michael A. Gayed is Portfolio Manager at Toroso Investments, an investment management company specializing in ETF focused research, investment strategies and services designed for financial advisors, RIAs, family offices and investment managers. Prior to Toroso Investments, Michael was the Co-Portfolio Manager and...

Reuters Events’ Investment Summit

The CMT Association is honored to serve as an educational sponsor of the Reuters Events’ Investment Summit held virtually on December 3-4, 2020. After months of economic uncertainty and volatility, the investment community is at a crossroads. With global markets in decline and diverse economies heading towards recession as volatile conditions continue, the Investment Summit will unite financial institutions and investors from around the...

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)

Emily E.A. Meyer

Emily Elizabeth-Anne Meyer is the Head of Marketing – Americas at FlexTrade. She served as the Director of Marketing for the CMT Association until 2021.

Minneapolis Chapter Meeting Review

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...

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)

Jamie Keelin, MBA, CMT

Jamie Keelin, who holds a Chartered Market Technician (CMT) designation, is the Chief Investment Strategist at Frazer Bay Investments, LLC, which offers investment strategies that are based on tactical asset allocation (TAA), a dynamic investment strategy that actively adjusts a portfolio’s asset...

Member Interview With Ian McMillan, CMT

Please tell us what you do professionally.

I am an analyst/co-portfolio manager at an RIA/wealth management firm in Wisconsin.

How did you get there?

An acquaintance/friend of the Director of Investments in the firm I would soon join got me interested in the CMT Association. We met at two different conferences – one being the annual CMT event in NYC) – and got...

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)

Ian McMillan, CMT
Ian McMillan, CMT

Ian McMillan is a Market Technician at Client First Tax & Wealth Advisors.  Prior to his role at Client First Tax and Wealth Advisors, Ian was a Senior Analyst based out of the Washington DC area.  Ian has been in the wealth...

India Summit Experience Informs 2021 Symposium Planning

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...

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)

Joel Pannikot

Joel Pannikot (pronounced as Punny-Quote) is the Managing Director of Chartered Market Technician Private Limited and serves as the Head of the Asia-Pacific region for the CMT Association. In this role, he is committed to advancing the field of technical analysis through...

CMT Photo Archive

This is the second installment in an occasional series revisiting the Association in pictures. With shelter-in-place orders reemerging throughout Europe & South Asia and our transition to online-only member programming, we’d like to offer a glimpse of in-person events as a reminder of what we aspire to in the future.

If you have any pictures from seminars, meetings or after work get-togethers please submit...

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)

Michael Kahn, CMT

Michael Kahn, who holds a Chartered Market Technician (CMT) designation, is a seasoned financial services strategist, analyst, columnist, educator and speaker.  Michael has been working with charts and technical analysis since 1986. He is the author of three books on technical analysis...

Membership News

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...

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.