Forget March. October came in like a lion as the news cycle and economic reports stomped on the bulls. Considering that September was rather tame, it was a big wake-up call for stock jocks.
But September did have its moments. The U.S. dollar soared and the UUP bullish dollar ETF nearly hit all-time highs (set in 2008). Gold, which still holds a long-term breakout, faded all month, not surprisingly. Bitcoin barfed (my opinion embedded there). The long Treasury yield recovery failed while the curve inverted and un-inverted again. And crude oil gave up its gains and then some after the Saudi oil field attack.
There are fun markets to trade everywhere!
Lest we forget, after peaking in 2014, the number of UFO sightings dropped this year to date to a 19-year low. I don’t quite see the correlation to any market, and especially not cannabis.
So, while we sip our pumpkin spice (barf again) and watch this October’s volatility, remember that the “good part” of the year is upon us. No, not the seasonal strength for stocks but the CMT Association’s rolling out of all sorts of good stuff to make your work life better and easier.
In this issue, we’re re-running a series from Technically Speaking’s past on the history of Wall Street, written by Bruno DiGiorgi. Did you know how the term “broker” came about? It had nothing to do with investors getting broker the more they traded.
And since we’re in the rerun spirit, we’ve got an article from Adam Koos that ran last May in Proactive Advisor magazine. In it, Adam details his CMT journey and how it helped him in his advisory business. It’s a testament to the value of the designation and the process of getting it.
I’ve also included a short piece on the “spirit of technical analysis.” Basically, it asks the question, “Does your precise analysis make sense in the real world?”
We have an interview with the legendary Louise Yamada, whose work decades ago helped shape the analysis we practice today.
Of course, we’ll round it off with Association news, updates from the CMT program, members in the media and chapter speaker reviews from New York, Chicago and Minnesota. The latter two are my total favorite chapters because they share frequently. The rest of you, well, bless your hearts.
Michael Kahn, CMT
President’s Letterby Scott G. Richter, CMT, CFA, CHP
I recently read a book called “Tribe” by Sebastian Junger and it got me thinking about similarities between tribal behaviors, the importance of shared meaning and the technical analysis...
The History of Wall Streetby Bruno DiGiorgi
This is the first installment of a rerun of periodic series chronicling the history of the street. The series originally ran in Technically Speaking beginning in September 2000. The story of Wall...
Minnesota Chapter Speaker Reviewby Mahesh Johari, CFA
The Minneapolis CMT Association Chapter’s September meeting took place at Ralph Acampora, CMT’s farm, and it was a really great event. Ralph’s barn records the entire history of...
CMT Program Supports the Philosophy of Proactive Money Managementby Adam Koos, CFP, CMT
This article is reprinted with permission from Proactive Advisor magazine, dated May 22, 2019 After almost two decades in money management, completing the CMT (Chartered Market Technician) program...
Chicago Chapter Meeting Reviewby Jim Erdmier, CMT
Professional trading legend Linda Bradford Raschke drew in a large crowd when she came to the CMT Association’s Chicago Chapter September 5 meeting. Despite the Bears-Packers game and the horrific...
The Spirit of Technical Analysisby Michael Kahn, CMT
I have always been a proponent of the spirit of the analysis rather than the letter of the law. In other words, a trendline may be perfectly constructed using a classic definition but if it does not...
New York Chapter Speaker Reviewby Tom Bruni, CMT
On Thursday, October 3rd the New York Chapter hosted Todd Sohn, CMT, Director of Technical Strategy at Strategas Research Partners. Todd’s presentation was entitled “Perception vs....
Members in the Mediaby Marianna Tessello
George Schade, CMT, recently released a biography of former Forbes editor and financial writer Richard W. Schabacker. Published by Outskirts Press, The New Era of The Booming 1920s And Its...
Member Interview – Louise Yamadaby Louise Yamada, CMT
Please tell us what you do professionally. I am now a semi-retired technical analyst and advisor publishing a monthly 60-page piece for institutional and retail (broker and individuals) clients....
CMT Curriculum: Past, Present, and Futureby Stanley Dash, CMT
Newly approved charterholders and longstanding veterans often raise questions about the curriculum for the CMT Program. Recent candidates are curious about the genesis of the compiled books they...
Membership Newsby Marie Penza
Membership The CMT Association would like to congratulate the following members on their new positions: David Keller, CMT, Chief Market Strategist at StockCharts.com, Inc. Mohanad Yakout, Managing...
New Educational Content This Month
September 16, 2021
CMT Program Informational Session
Presenter(s): Stanley Dash, CMT, Tyler Wood
August 19, 2021
Volume Analysis Series (Part 2): Profiting from Trends
Presenter(s): Buff Dormeier, CMT
July 17, 2021
Popular Indicators Redefined – India Chapter Meeting
Presenter(s): Brijesh Bhatia, Joel Pannikot, Kusal Kansara