As it is for so many people, especially those who worked in downtown Manhattan and the Pentagon, this month holds special meaning as it marks the 20th anniversary of the attacks on 9/11. As the Association, then known as the Market Technicians Association (MTA), had its headquarters in the North Tower of the World Trade Center, we were deeply affected. First and foremost, we had our own people in the building when the events unfolded. Fortunately, everyone working in the office was able to escape to safety. But we did suffer a huge loss as one of our members perished in the Tower collapse, and so did our office, along with our library and a good deal of our written history.
In this month’s edition, we have an updated version of the experience of Shelley Lebeck, our long-time office manager, from first feeling the building shake to her escape uptown. We also are re-running a piece written by Barbara Gomperts, our marketing consultant and production coordinator, about how the Association was able to bounce back so quickly. And Ralph Acampora relates his thoughts; he was President of the Association at the time. The point of all this is to show how the Association was dealt a huge blow, but was able to overcome it and continue to serve our members. That is the power of a membership community who cares and gets involved. Here is but one example: the late Bill Doane, who I thank daily for saving every edition of Technically Speaking, drove down from Boston with boxes of books from his own personal library as a gift to kickstart the library rebuild. Also, as luck would have it, I had a stash of MTA photos at home with me as I was putting together our tradeshow marketing booth. At least we had some of our visual history to seed new memories.
There are, of course, other things happening in the Association as we continue to move forward. This month’s member interview is with Ryan Detrick, CMT, who you may have seen many times on TV and Twitter, as he spreads the word on technical analysis. We’ve got news about the upcoming Asia Pacific Summit virtual event, as well as member news, information on the new Fill the Gap podcast episode and the announcement that our submission period is now open for the 2022 Charles H. Dow Award.
Be a part of this. Join a committee. Share your knowledge with the next generation of technicians. Even just attend the annual symposium. You will be glad you did.
This is the final edition of Technically Speaking in its current form. The Association is combining this newsletter with the Technical Insights newsletter, and I will be handing over the reins to Rashmi Shastry, CMT and the new team. Executive Director Alvin Kressler has more about this initiative below.
Michael Kahn, CMT
Editor
What's Inside...
President's Letter
by Brett Villaume, CMT, CAIAVolunteerism is the lifeblood of the CMT Association – always has been. But serving doesn’t just benefit the Association. It also unlocks the ability for CMT charter holders to advance their...
2022 Charles H. Dow Award Submissions Now Open
by Emily E.A. MeyerSubmissions for the 2022 Dow Award are now open, and will remain open until December 7. In 1994 the CMT Association established the Charles H. Dow Award to highlight outstanding research in technical...
Virtual Asia Pacific Summit Taking Place October 2-3
by Jamie Coutts, CMT, CFTeThe inaugural Asia Pacific Summit presented by CMT Association brings together the very top global and regional practitioners from both the buy and sellside communities. Over two knowledge-packed...
Shelley Lebeck's September 11th Experience
by Shelley LebeckEditor’s note: These are MTA Administrative Manager Shelley Lebeck’s thoughts, most of which were written shortly after her escape from the North Tower. As the organization was known as the...
From Wall Street to Main Street (or How the MTA got to Woodbridge, NJ)
by Barbara I. GompertsMany might wonder how the MTA was able to get back to work so soon after September 11 when all they had was totally destroyed. How did they get an address, phone, etc. so soon? Well, there is a story...
Tragedy and Triumph: Ralph Acampora's Story
by Ralph Acampora, CMTI was the President of the then-Market Technicians Association (MTA) and the Director of the Technical Research Department at Prudential Securities on September 11, 2001 and was on a business trip in...
Member Interview with Ryan Detrick, CMT
by Ryan Detrick, CMTPlease tell us what you do professionally. I am the Chief Market Strategist at LPL Financial. We are the largest independent Broker/Dealer in the country, with more than 19,000 Advisors and more than...
Technically Speaking Transitions to New Editorial Team
by Alvin KresslerThe CMT Association is excited to announce that Technically Speaking is entering a new chapter, welcoming Rashmi Shastry, CMT as Editor. Earlier this year, Rashmi spearheaded the Technical Insights...
Fill the Gap Episode 9, Featuring Chris Verrone, CMT Now Streaming
by Tyler Wood, CMTConsistently ranked among the top macro analysts on Wall Street in the annual All-America Research Survey by Institutional Investor magazine, Chris is known to most in this business as one of the...
Membership News
by Marie PenzaCMT Standard registration for the CMT exams will close on October 4 and late registration will be open until November 15. The December 2021 test administration will begin on December 2 and close on...
New Educational Content This Month
This month, we’ve added a webcast presentation featuring Buff Dormeier, CMT to our archives, as well as updated the recordings of July’s European Summit. If you need to brush up on your technical listening ability in advance of the APAC Summit, this is the place to start.
Volunteerism is the lifeblood of the CMT Association – always has been. But serving doesn’t just benefit the Association. It also unlocks the ability for CMT charter holders to advance their careers. For decades we did not employ any paid staff members, aside from Ms. Shelley Lebeck, who served as Office Manager. In 2005, we hired our first Executive Director and since then the CMT Association Staff has grown to eight individuals. Lucky for us, the staff today, led by Executive Director Alvin Kressler, are highly talented and dedicated people who have been with the Association for years, many of whom you may know personally. So, who used to run the day-to-day operations of the Association? It was the Board of Directors, committee members, and local chapter chairs – all of whom were volunteers. No doubt, the success of the Association and our now highly-acclaimed CMT Program is due to the passion
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)

Brett Villaume, CMT, CAIA
Brett Villaume, CMT, CAIA, is Past President of the CMT Association, having served on the Board of Directors since from 2014 to 2023. Additionally, Brett is a Wealth Advisor at Dogpatch Capital, a registered investment advisor in San Francisco, CA. From 2015 to 2021, Brett...
Submissions for the 2022 Dow Award are now open, and will remain open until December 7.
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 to the Charles H. Dow Award. 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; winners are often presented at the CMT Association’s Annual Symposium.
The competition is open to all practitioners and academics. Submissions will be judged based on their ability to enhance the understanding of market action, the concepts of technical analysis, and thorough research. Additional information on the Standards of Judgment are included within the Guidelines for Submissions.
While the winning paper will be published in the Journal of Technical Analysis, other research for publication in the Journal is accepted on a rolling basis year-round.
For more information on the Charles H. Dow Award, please contact DowAward@cmtassociation.org.
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
The inaugural Asia Pacific Summit presented by CMT Association brings together the very top global and regional practitioners from both the buy and sellside communities. Over two knowledge-packed days, Summit attendees will enjoy an eclectic mix of unique perspectives on major themes, opportunities, and technical techniques across the entire investing ecosystem. Hedge fund manager and publisher of several of the most important books on systematic investing, Andreas Clenow, will be joined by several of the most esteemed rules based discretionary analysts, including CLSA’s own Lawrence Balanco, CMT, Asia’s No.1 Rated Technical Strategist as well as prolific independent technical investor and educator, Francis Hunt. At its core, technical analysis is about data visualization and modelling. During the Summit, you can expect to learn new insights on the intersection between market psychology and big data from an array of experts such as Katsunari Yamaguchi, PhD, CFA, CMA, Katsuhiko Okada, PhD, and Aman Oberoi, while
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 Coutts, CMT, CFTe
Jamie Coutts, CMT, CFTe is a crypto market analyst for Bloomberg Intelligence and is responsible for creating crypto market structure, asset, sector and thematic analysis content for clients. He takes a multi-disciplinary approach to his analysis of this emergent asset class,...
Editor’s note: These are MTA Administrative Manager Shelley Lebeck’s thoughts, most of which were written shortly after her escape from the North Tower. As the organization was known as the Market Technicians Association (MTA) in 2001, we’ve kept the original name here. The manufacturers of New York City postcards are going to have to start over. Today the landmark World Trade Center buildings collapsed into rubble: thousands of lives are going to change after today, mine included. My office at the Market Technicians Association (MTA) was in 1 World Trade Center (the North Tower) on the 44th floor and I was in the building when it all happened. The day started as any other ordinary workday, and I recall that it was a beautiful day with clear blue skies and a perfect temperature. I took the bus to work, went inside the concourse to get the paper, picked up my coffee
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)

Shelley Lebeck
Shelley Lebeck was the administrative manager for the Market Technicians Association (now CMT Association) from July 1988 through June 2005. MTA had offices in the World Trade Center on the 44th floor from 1994 through 2001, thanks to New York Society of Security Analysts...
Many might wonder how the MTA was able to get back to work so soon after September 11 when all they had was totally destroyed. How did they get an address, phone, etc. so soon? Well, there is a story behind all of this. No, it didn’t just happen on September 12, but the 74 Main Street location was already in place, furnished and was getting ready for an MTA committee summit the weekend of September 15-16 (which was cancelled) and a grand opening on Friday, September 28, plus a long-range planning meeting on Saturday, September 29 (which did take place). In early 2001 the Foundation for the Study of Cycles had ceased operation and gave their library and archives to the MTA. What to do with the 500 boxes of their material? Put it in a storage facility on the west side of Manhattan? The Foundation specifically requested we not do
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)

Barbara I. Gomperts
Barbara Gomperts was the long-time production coordinator for Technically Speaking, among other marketing and publication-related functions, working out of Marblehead,
I was the President of the then-Market Technicians Association (MTA) and the Director of the Technical Research Department at Prudential Securities on September 11, 2001 and was on a business trip in Europe when the day’s tragic events unfolded. While on my flight from Milan, Italy to the Canary Islands, the pilot made an announcement over the PA system: “A plane hit the World Trade Center in New York City.” He didn’t elaborate on this news because he said that it was all the information that he had. Needless to say, this created a loud buzz among all of us passengers. By the time I landed at Heathrow Airport, in London, for my final connecting flight home, reality hit me like a bomb! Oh my gosh, Shelley (Lebeck) and Maria (Wittek), the ladies who run the daily operation of the MTA, were in the building – did they get out 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)

Ralph Acampora, CMT
Ralph Acampora, CMT is a pioneer in the development of market analytics. He has a global reputation as a market historian and a technical analyst, providing unique insights on market timing and related investment strategy issues to a wide audience within the financial industry....
Please tell us what you do professionally. I am the Chief Market Strategist at LPL Financial. We are the largest independent Broker/Dealer in the country, with more than 19,000 Advisors and more than $1 trillion in assets. My role is to help formulate and communicate our current investment and economic views. I write papers, blog, go on TV, tweet, film videos, and voice a podcast, among other ways we leverage getting our voice out there. We have a large research team that manages a lot of money and I play a big role in our tactical models and allocation committee, while focusing on current allocations and sector allocations. I was always a research guy, but I’ve found that working with Advisors and their clients is extremely rewarding. To have someone thank you for getting them through a rough period and help them reach their long-term investment goals is so awesome! How did you
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)

Ryan Detrick, CMT
Ryan Detrick, Senior Vice President, Chief Market Strategist, is a member of the LPL Financial Research tactical asset allocation committee, responsible for directly impacting the portfolio decision-making process, as well as a member of the market insights team, developing and...
The CMT Association is excited to announce that Technically Speaking is entering a new chapter, welcoming Rashmi Shastry, CMT as Editor. Earlier this year, Rashmi spearheaded the Technical Insights newsletter initiative in our India community, which demonstrated the value of including free, timely technical analysis research in a monthly newsletter format. Although Technical Insights was a short-term initiative, its popularity and consistent quality led the Association to revisit the current format of Technically Speaking.
The strong structure that Michael Kahn, CMT developed as the editor of Technically Speaking for the past three years allows the new editorial team to maintain key sections like the Letter from the President, membership interviews, and stories about the historical evolution of the CMT Association. As we integrate the core concepts of Technical Insights, members can expect to also receive timely technical analysis articles addressing current market conditions and investment decision making methodology.
Starting in October, to accommodate this shift in content, Technically Speaking will publish on the 9th of the month with fresh monthly chart data in each issue. Additionally, several entry-level articles in each issue will be “unlocked,” allowing members to share research and analysis more freely with colleagues and friends.
By implementing these changes, the Association will diversify the level of technical analysis discourse presented in this monthly newsletter, as well as offer more accessible publication opportunities for our community. Rashmi is currently accepting articles from both member and non-member authors who wish to publish in Technically Speaking; please send a brief synopsis of the story you wish to tell, the stock or trend you wish to report on, or the technical tool you’d like to discuss to editor@cmtassociation.org to be considered.
The CMT Association would like to thank Michael Kahn, CMT for reprising his role as editor of Technically Speaking over the past three years, reviving the publication, and helping us re-establish its place in our members’ psyche as a place to go for information on the Association. Technically Speaking regularly tops our list of member engagement statistics. We are truly grateful for all Michael’s work and contributions through the years, and look forward to his future contributions looking back at CMT Association history and how it applies to the current environment.
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...
Consistently ranked among the top macro analysts on Wall Street in the annual All-America Research Survey by Institutional Investor magazine, Chris is known to most in this business as one of the hardest-working technical analysts on the street. Episode #9 of Fill the Gap focuses on the distillation process of Mr. Verrone, whose comprehensive and exhaustive coverage of securities markets seeks to highlight what is cogent and compelling. The sheer magnitude of his charts is impressive, but the precision of the message is what makes Chris and his team’s work so invaluable to clients. Mr. Verrone is a partner of Strategas and is the head of the Firm’s Technical Strategy and Macro Research team. His regularly published research highlights actionable investment opportunities across the equity, commodity, foreign exchange, and fixed income markets. Whether you are a publishing analyst, a portfolio manager, or an enthusiast of markets, Chris’s insights will help you
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)

Tyler Wood, CMT
Tyler Wood serves as Managing Director of CMT Association with the aim of elevating investors’ mastery and skill in mitigating market risk and maximizing return in capital markets through a rigorous credentialing process, professional ethics, and continuous education. He...
CMT Standard registration for the CMT exams will close on October 4 and late registration will be open until November 15. The December 2021 test administration will begin on December 2 and close on December 12. If you need assistance with registering for the exam, please contact us at admin@cmtassocation.org and we will be happy to assist you. Candidates are required to have a current and valid ID, bearing a signature and a recent photograph when taking the CMT exam, whether at a test center or through remote proctoring. Acceptable forms of identification include: valid passport, driver’s license, employee ID card and state ID card. Please note, candidates taking the exam outside their country of citizenship must present a valid passport. The name on your valid form of ID must exactly match the name that you used to register for the exams. The CMT Association would like to congratulate the following members who received their CMT
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
New Educational Content This Month
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September 13, 2023
Charting and Analysis in Today’s Equity Markets
Presenter(s): Anthony F. Esposito, CMT
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September 6, 2023
Market Trend Analysis
Presenter(s): Stephen W. Bigalow
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August 30, 2023
Two New Oscillators – Volume Zone and Price Zone
Presenter(s): David Steckler