I Am Very Bullish On Technical Analysis

JC Parets
March 21, 2019

We might be in a rangebound market for stocks, but one thing is for sure: the trend for Technical Analysis is up.

I've had a front row seat to the growth of this discipline and its practitioners for the past 15 years, since first starting my journey. I was half way through John Murphy's Technical Analysis of Financial Markets when I knew this was for me. Things only became more clear after that. As I read through Edwards & Magee and many other books, the way markets behaved just started making more and more sense.

Living in New York City for most of that period, I was able to meet a lot of the best Technicians alive today, and some who are no longer with us. As a practitioner, I've also been able to really see the value, and the limitations, of technical analysis.

I've made it a point to travel around the world speaking with traders and investors. For me, it's easy to get up on stage and talk about the charts I'm looking at every day. At this point I can draw them for you. The real value for me is before and after those presentations. It's the conversations I'm having in places like Hong Kong, Philippines, Taiwan, Singapore, Tokyo, Kuala Lumpur, Mumbai and others where I have really been able to understand the real value in analyzing the behavior of the market, and more importantly, its participants.

It doesn't matter how different our cultures might be. Humans are built the same and are driven by the same emotions. Fear and greed is the constant here, regardless of whether you're a BBQ eating Texas boy, you grew up drinking Singapore Slings at Raffles or my favorite, the Dosa in India! We are what is consistent here. That's why Technical Analysis adds value and why I'm so bullish of the discipline and its practitioners.

I'm putting my money where my mouth is too! In the past few months I've made private investments in both The Chart Report and in Koyfin Charts. The Chart Report is like the daily skimm, but for technical analysis. And although I use Koyfin for their charts and data, they're really much more than that. I think they're the next bloomberg, but with better charts.

If I didn't think the trend in Technical Analysis was up, I wouldn't be investing in these things. But I see the value every day. I speak with investors all over the world on a daily basis and they tell me how thankful they are of the work we do. Some of these clients are the biggest banks and hedge funds on earth. Others are investors managing their own portfolios. They all come to us for consistent unbiased opinions on stocks, interest rates, commodities and currencies. Technical analysis allows forces us to do that.

Last month I co-hosted Chart Summit in Breckenridge, CO. This is the first Financial Conference I've ever been to where we all Ski all day and then Chart all night. We had a blast! 

After speaking to a lot of the guests, one presentation that really stood out to them was the Tyler Wood talk about Technical Analysis. I wanted to share this with you today, so you can hear what he had to say. I thought this was very well done:


If you're coming to the CMT Association annual Symposium April 3-5, shoot me an email. If you haven't registered, you can do so here. I always encourage people to go if you're interested in learning and meeting smart people.

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JC

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