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Tuesday’s meetings turned on their heads: But we still get to see them

I’m a regular presence at Tuesday’s monthly meetings of the Society of Technical Analysts at the Institute of Chartered Accountants of England and Wales’ lovely premises at One Moorgate Place, City of London. Partly because I so enjoy catching up with members over drinks after the talk, but also because I’m tasked with doing a write-up and blog for those who didn’t make it. The meeting on the 11th March was cancelled – such a pity.

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Posted in Finance, Markets, STA news, Technical Analysis Courses, Trading, Trending
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Working from home: And warned I might have to lock myself in for months

For a fortnight now I’ve been working from home. In fact, for almost 6 years I’ve been working partially from home and partially at a large office building in the City of London. The set-ups are, needless to say, very different and will not suit everyone. Today’s reality, however, means that many of those who can are being asked to self-quarantine and take their laptops with them.

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Posted in General

How the markets worked a long time ago: And how staff dressed for work

Quite by chance, about 10 days ago, someone put me on to a video available (to those who pay a television licence fee) on BBC iPlayer. Called ‘The Markets’, it was released in 1976 and is an interesting vignette of how things used to be in the City of London, and how the plumbing really works. I don’t go back that far, though I did study at the London School of Economics, but many of my work colleagues in the early 1980s were around then and regaled us with tales of the old days – not the ‘good old days’ mind you.

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Posted in Finance, Markets, STA news, Technical Analysis Courses, Trading, Trending
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Charting the markets with IG TV: Safe havens ahoy! But do you know where they are?

A very brave Joshua Mahoney of the IG platform faces an incredibly tricky time explaining the carnage in all sorts of markets on the morning of Monday 9th March 2020 – plus, trying to forecast the next step. Well done, we say, as this is precisely the time and space when we need clear advice and cool heads.

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Posted in Finance, STA news, Technical Analysis, Technical Analysis Courses
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That was the Week that Was: And then the client asks: ’’how are you left?’’

A phrase dreaded by market makers in all areas of finance who, because they are obliged to make two-way prices for existing clients throughout the business day, means there are more difficult orders on the way and the most recent price the client accepted was because it went in their favour. In other words, the dealer’s got stuck with a nasty position and scrambling out of it is about to get even harder.

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Posted in Finance, Markets, STA news, Technical Analysis, Technical Analysis Courses, Trading, Trending
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Book review: ‘Unchartered: How to map the future together’ by Margaret Heffernan, published by Simon & Schuster

The Weekend FT is strong on book reviews, generally well-written, some good, rarely bad, and never indifferent. Mercifully, they cover a lot more than fiction because, as my friend the Supreme Court judge says: ‘’when you have to read a lot for your work, fiction becomes less and less satisfying’’ – as is also my case.

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Posted in Finance, Markets, STA news, Technical Analysis Courses, Trading, Trending
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When is parabolic too much? Answer: when it suddenly reverses

Media outlets – and not just financial ones – have been getting terribly excited about the share price of US electric vehicle-maker Tesla. Admittedly the firm has stolen a march over its competitors, and Mr Musk has an army of ardent fans who almost believe he’s a visionary who can walk on water. But at the heart of speculation is whether, and how quickly, can his shares hit the $1,000 mark. Price action recently has been almost vertical – with a sharp stumble here and there. Cassandras, predictably, are saying it’ll end in tears.

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Posted in Finance, Markets, STA news, Technical Analysis, Technical Analysis Courses, Trading, Trending
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Robin Griffiths, who has pedigree, overviews the last 50 years: Because the STA also has 50 years under its belt

Well, we’ll have to give it to him, he’s done 53 years as a professional technical analyst/strategist, despite a BA in economics from Nottingham University. His first City job was at stockbrokers Phillips and Drew – one of the many names I remember from long ago – which produced, in Robin’s opinion, some of ‘’probably the best fundamental analysis in London.’’ Well, I bet that’s not what you expected! Exempted from 9 of the 13 actuarial exams required, he tidied up the situation ASAP.

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Posted in Finance, Markets, STA news, Technical Analysis, Technical Analysis Courses, Trading, Trending
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Charting the Markets with IG: TV Guest Patricia Elbaz spills the beans

A little social media bird let me in on a surprise. For her interview on IG TV, hosted by Victoria Scholar, veteran technical analyst Patricia Elbaz arrived with a congratulatory card and cake. This is because Victoria had passed her STA Diploma Part I exam with ‘amazing results’. I’m sure all STA members will want to extend their best wishes to all other successful candidates.

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Posted in Markets, STA education, Technical Analysis, Technical Analysis Courses, Trading
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It’s my birthday this month, so I’m looking at monthly candles: Not blowing them out though

Many markets this January have been a ‘Tale of Two Cities’ – or halves anyway. This has created a series of very interesting, and sometimes rare, single or two-candle patterns, reminding me of the song ‘Candle in the Wind’. Like the song’s lyrics, ‘’and it seems to me you lived your life, like a candle in the wind, never knowing who to cling to, when the rain set in’’. My gut instinct is to look carefully and special candles to see if they’ll give you a steer as to which way the wind is blowing.

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Posted in STA charts, STA education, STA news, Technical Analysis, Technical Analysis Courses, Technical Analysis Training, Trading, Trending
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‘Harbingers of failure’ versus ‘lead customers’: Notes from Tim Harford provoke contrarian thinking

Earlier this month Tim Harford, a Financial Times (TimHarford@ft.com) writer and author of best-selling books ‘The Undercover Economist’ and ‘Fifty Inventions That Shaped the Modern Economy’ – who I rate highly, published an article about losers – in which category he includes himself. These are people who consistently purchase products which most people don’t want.

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Posted in Finance, Markets, STA news, Technical Analysis Courses, Trading, Trending
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ChiNext Composite the outperformer

Just over a month ago, we wrote that the index of all shares listed on the Growth Enterprise Board, the ChiNext, had broken up out of a small symmetrical triangle, and should rally to retracement resistance at 2155. It’s got there and more, up 7.6 per cent since the beginning of this year, outpacing other Chinese stock indices.

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Posted in Finance, Markets, STA charts, Technical Analysis Courses, Technical Analysis Training
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Charting the Markets with IG TV: Guest Lee Sandford of London Trading College quizzed again

A regular guest on this 10:30 am slot, host Victoria Scholar slickly puts charting veteran Lee through his paces. Interestingly, he kicks off with FX cross the Kiwi (New Zealand dollar, for the uninitiated) against the Canadian dollar. While these ‘commodity’ currencies (plus the Australian dollar) feature regularly on specialists’ radars, I’m wondering whether the average IG spread-betting fan is really that interested.

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Posted in Education, Finance, Markets, STA charts, Technical Analysis Courses, Trading
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ACI “the filling in the sandwich”: The economist between the dark side

That’s how Adrian Schmidt said he felt as a fundamental analyst slotted between two technical analysts at yesterday evening’s special panel debate organised at the STA’s usual (and lovely) venue in conjunction with the ACI. To an almost full house – maybe because of the ACI hook-up, maybe because investors make plans in January, maybe because of the calibre of the speakers – the session was riveting.

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Posted in Finance, Markets, STA charts, Technical Analysis, Technical Analysis Courses, Trading, Trending
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Tremendous turnout for equities in 2019: Despite Sino-US trade spat

I’m probably preaching to the converted, but: beware media headlines. Bad news is shocking, and shocking sells newspapers. Sensationalist wording gets eyeballs on social media. Slick and surprising video footage gets clicks; so it goes, and has always; therefore journalists are trained to write exciting copy. In fact, larger media outlets have teams whose sole job is to come up with catchy headlines.

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Posted in Finance, Markets, STA news, Technical Analysis, Technical Analysis Courses, Trading, Trending
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Charting the Markets on IG TV: With IG’s Senior Market Analyst Joshua Mahony

The TV and media team and IG are a slick lot with a busy production schedule. As well as producing text and video content, they coordinate news feeds for the platform and do their own analysis. From Monday to Friday there are 3 TV slots: at 07:30 London time (Pre-European open bulletin); 10:30 Charting the Markets; 16:00 Trading look ahead.

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Posted in Education, Finance, Markets, STA charts, STA education, STA news, Technical Analysis, Technical Analysis Courses, Technical Analysis Training, Trading
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This is not a blog; this is not even an M&S blog: It’s just seasonal greetings masquerading as a blog

I’m really looking forward to taking some time off over the Christmas and New Year’s Eve weeks. I’ve cut these out of my working diary for many years now, mainly because markets are dead – ergo technical analysis pointless – and it suits my employers/editors/powers that be. All well and good, but as a media luvvie I’m expected to file copy to cover these dates so I’ve been working double time this month.

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Posted in Education, Finance, General, Markets, STA charts, STA education, STA news, Technical Analysis, Technical Analysis Courses
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Thirty-third STA AGM: Gets into full swing

Starting a few minutes late, up at the front of the conference hall at One Moorgate Place, London EC2 R 6EA, was new STA Chairman Tom Hicks who had previous incumbent Axel Rudolph’s big shoes to fill. He was flanked by Committee members Clive Lambert and Richard Adcock, plus Claudia Shaffer taking the minutes. All-round organisational whiz Katie Abberton was there to check memberships, give out red voting cards to those entitled to do so, count the votes ‘for’ – and as usual, there were none against the motions.

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Posted in Finance, Markets, STA news, Technical Analysis Courses, Trading, Trending
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The gleaming glass of the South Bank, between Tower and London Bridges: A suitably modern venue for some crusty old fellows

These were not any old fellows, but STA Fellows, I’ll have you know. The second time I’ve been invited, having only been made one of the gang last summer at the City Hall 50th STA birthday bash, the event had been in the planning for months. The Society books the venue and provides bubbly and wine, Fellows foot the food bill.

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Posted in Finance, Markets, STA news, Technical Analysis Courses, Trading, Trending
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Charting the Markets with IG TV: Rajan Dhall tells us about indicators

I hear that IG TV presenter Victoria Scholar found this week’s segment with Rajan Dhall especially helpful – and having just watched it, I can see why. He focuses on 3 popular technical analysis indicators, walking us through, step by step, how to construct and interpret them; very much a ‘teach yourself’ indicators special.

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Posted in Education, Markets, Technical Analysis, Technical Analysis Courses, Trading
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Disclaimer

The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

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