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...
Scott G. Richter, CMT, CFA, CHP
Scott Richter, CMT, CFA, CHP is a senior portfolio manager for Westfield, which manages over $4B in AUM. He is the lead portfolio manager for alternative assets and is also responsible for investments in the energy and utility sectors. He was formerly the co-manager...
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
Adam Koos, CFP, CMT
Adam Koos, CFP, CMT, is the president and portfolio manager at Libertas Wealth Management Group, Inc., located in Columbus, Ohio. Mr. Koos is a graduate of Ohio State University and has earned degrees in psychology and finance. He has been named one of Central Ohio’s “People...
Jim Erdmier, CMT
Jim Erdmier, who holds a Chartered Market Technician (CMT) designation, has been trading privately and institutionally for 10 years in equities, FX, and futures. He is pursuing a degree in Finance and Computer Science at DePaul University. Jim is Co-Chair of the Chicago Chapter...
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...
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...
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...
Louise Yamada, CMT
Louise Yamada is the Managing Director of Louise Yamada Technical Research Advisors (LYA), which she founded in 2005. Previously, she was Managing Director and Head of Technical Research for Smith Barney (Citigroup), and while there, was a perennial leader in the Institutional...
Stanley Dash, CMT
Stanley Dash is the CMT Program Director at the CMT Association, a global credentialing body. In this role, Mr. Dash works with subject matter experts, candidates, and the Association's members to maintain and improve the curriculum, the test experience, and the value of the...
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