From the Executive’s Desk

- We have decided that the quality of our webcasts needed to be improved as, with increased regularity, it is a key modality for the dissemination of our technical analysis information to our Membership. Our website now has many of our Spring Seminar presentations displayed. I believe you will see a noticeable improvement in view-ability. I urge you to take a look (www.mta.org). We intend to continue this process and build an archive of nformation as we webcast local chapter meetings, informational sessions, market forecast panels, etc.
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What's Inside...

In Memoriam
by Phil Roth, CMTWith great sorrow, I must report to you of the passing of John Brooks, a past President and founding member of the Market Technicians Association. He died Sunday morning, June 10, after a long...
John C. Brooks
by Paul F. DesmondJohn C. Brooks, of Jupiter, FL and formerly of Atlanta, GA and Brooklyn, NY died in peace after a courageous battle with cancer, on Sunday, June 10, 2007. John leaves behind to honor his memory his...
Pictures from the MTA Annual Education Seminar 2007 New York City, May 18-19
Thank You! Without the help of our gracious sponsors we would not have been able to have such a successful seminar in May. On behalf of the the MTA we wanted to say THANK...
Culture Bites: Electronic Migration And Black Box Trading
by Molly Schilling & Colin ClarkRecently, Molly McLaughlin Schilling interviewed Colin Clark of the New York Stock Exchange and gained insight of what is happening now, and in the future, at the Exchange. Molly Schilling: Hi Colin....
NYMEX Crude Light Long-Term Analysis
by Nicolas Di Carlo, CMTThe purpose of this article is to look at the price action of the NYMEX Crude Light futures contract and determine its most likely course of action over the coming months. To help in this process, I...
Meet the MTA Staff
Shane Skwarek is a new intern at the Market Technicians Association for the summer of 2007. He is approaching his senior year at Monmouth University in West Long Branch, NJ and is majoring in...
A Notice from the MTA Headquarters
The MTA Headquarters would like to take the time to inform the membership of technological changes that we have been able to implement over the past month. Newsletter “Opt-Out” – We are...
MTA Annual Education Seminar 2007
by Kristin Hetzer, CMT, CIMA, CFPThe Annual MTA Education Seminar was held in New York City, May 18-19. Having attended the Mid-Winter MTA retreat in Miami, I debated whether I wanted to take the time and expense to attend the May...

With great sorrow, I must report to you of the passing of John Brooks, a past President and founding member of the Market Technicians Association. He died Sunday morning, June 10, after a long illness.
As you may know, John had been working in recent years for Paul Desmond at Lowry’s Reports. Paul has much more to say in the obituary posted below. Speaking for myself and the Market Technicians Association, we offer our condolences to John’s wife, Joanne and his two children.
John was a great proselytizer for technical analysis and the technical societies. At the formation of the MTA in 1972, John was our first Secretary and Treasurer. He was instrumental in the formation of IFTA and AAPTA. Two facts stick out in the 30-plus years I knew him. Back in the early 1990’s he and I were unhappy with a few of the seminars and were discussing what to
To view this content you must be an active member of the TAN Association.
Not a member? Join the TAN 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)

Phil Roth, CMT
Philip J. Roth, who holds the Chartered Market Technician designation, was the Chief Technical Market Analyst at Miller Tabak + Co. from 2001 until April 2012. Phil was a Wall Street professional for 46 years, and has been in the industry for over half a century, having served...
John C. Brooks, of Jupiter, FL and formerly of Atlanta, GA and Brooklyn, NY died in peace after a courageous battle with cancer, on Sunday, June 10, 2007. John leaves behind to honor his memory his loving wife Joanne, his mother Ann, his sister Joyce, devoted sons John of Los Angeles, CA and Peter (Liz) of Delray Beach, FL, grandchild Dean, nieces and nephews, and an extended family of good friends around the world.
A highly respected technical securities analyst, John worked at a number of prominent Wall Street firms, including Edwards & Hanley, Robinson Humphrey, and most recently at Lowry Research where he served as Senior Vice President and Senior Analyst. During his long and distinguished career, John was the co-founder and Past-President of the Market Technicians Association (MTA), and was one of the first recipients of the Chartered Market Technician (CMT) designation in the United States. In 1985, he
To view this content you must be an active member of the TAN Association.
Not a member? Join the TAN 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)

Paul F. Desmond
Paul F. Desmond served as the President of Lowry Research Corporation, the oldest continuously published advisory firm in the nation, until his passing in 2018. Paul joined Lowry in 1964 as Director of Research and advanced to President and owner in 1972. Over the course of...
Thank You!
Without the help of our gracious sponsors we would not have been able to have such a successful seminar in May. On behalf of the the MTA we wanted to say THANK YOU!
To view this content you must be an active member of the TAN Association.
Not a member? Join the TAN 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.
Recently, Molly McLaughlin Schilling interviewed Colin Clark of the New York Stock Exchange and gained insight of what is happening now, and in the future, at the Exchange.
Molly Schilling: Hi Colin. Can you tell us what you do here at the New York Stock Exchange?
Colin Clark: I am the head of Strategic Market Analysis and our group is responsible for analyzing various aspects of our business providing strategic and insightful information to senior management – we identify strategic small and large transactions for potential revenue synergies. We develop new products and leverage existing products across the two enterprises – NYSE and Euronext – we identify opportunities to leverage our trading platforms, distribution and sales forces to drive greater cash trade in revenues and greater derivative trading revenues.
For example, we’re rolling out a new crossing service called Match Point that allows us to facilitate block trading and trade portfolio throughout the
To view this content you must be an active member of the TAN Association.
Not a member? Join the TAN 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)

Molly Schilling
Molly Schilling is an independent trader and freelance writer. Molly has been a member of the MTA since

Colin Clark
Bio
The purpose of this article is to look at the price action of the NYMEX Crude Light futures contract and determine its most likely course of action over the coming months. To help in this process, I will use an array of technical tools including among others, trend lines, support and resistance levels, momentum indicators, chart pattern recognition, and price projection. The chart on which I will perform this analysis is a weekly bar chart, where each bar represents the price range of one week of trading.
Let’s start with a look at the January 2007 low around 50. One of the cornerstone in technical analysis is that price likes to turn at round numbers. The belief beneath it is that they bear significant psychological meaning, as they are easily
To view this content you must be an active member of the TAN Association.
Not a member? Join the TAN 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)

Nicolas Di Carlo, CMT
Nicolas Di Carlo, CMT, holds the position of Trader and Technical Analyst at a Swiss trading company since 2001, managing mainly overlays for Swiss pension funds and institutional hedge funds, and providing technical analysis. He can be reached at
Shane Skwarek is a new intern at the Market Technicians Association for the summer of 2007. He is approaching his senior year at Monmouth University in West Long Branch, NJ and is majoring in Computer Science. Shane has recently inherited responsibility for various portions of the MTA website, promising a vast majority of improvements!
Although new to him, Shane has quickly begun mastering the complex database software used to maintain the MTA website. His prior experience in website design and development has proved to be a useful tool in his adaptation to a previously unfamiliar database interface.
Shane has been working to help institute a donations page for the MTA Education Foundation (MTAEF), e-mail and newsletter “opt-out”, and the overall redesign of the MTA website. One of his goals is to make the website more efficient and appealing to our membership and prospects.
He was
To view this content you must be an active member of the TAN Association.
Not a member? Join the TAN 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.
The MTA Headquarters would like to take the time to inform the membership of technological changes that we have been able to implement over the past month.
- Newsletter “Opt-Out” – We are pleased to announce that we now are able to offer you the ability to “Opt-Out” of the hard copy mailing of this MTA monthly newsletter. Each month there are a number of newsletters that are sent back to our office because either the address is incorrect, or there is an error during the delivery process with the Postal Service. Of course the newsletter is still going to be posted to the website and made available to all, but to better serve the membership by providing the most cost effective use of your dues, we have come up with a solution for the mailings. If you still wish to receive the newsletter, YOU NEED TO DO NOTHING (other than keep
To view this content you must be an active member of the TAN Association.
Not a member? Join the TAN 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.
The Annual MTA Education Seminar was held in New York City, May 18-19. Having attended the Mid-Winter MTA retreat in Miami, I debated whether I wanted to take the time and expense to attend the May meeting. When I saw the list of speakers, I decided the time and expense would be worth it, if it meant taking away one good idea from the event.
Friday’s schedule was geared toward all MTA attendees. I have to say, Friday’s speakers were exceptional. The day started with a presentation by Jeffrey Weiss, CMT. If you haven’t heard Jeff Weiss, he is an entertaining and enthusiastic speaker. His extensive technical analytical background and passion for the equity markets captured everyone’s attention. Jeff’s market analysis, discussion of his indicators and current outlook for the market was comprehensive and worthwhile.
Katie Townshend, CMT discussed her work for shorter term trading using support, resistance and relative strength. Katie
To view this content you must be an active member of the TAN Association.
Not a member? Join the TAN 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)

Kristin Hetzer, CMT, CIMA, CFP
Kristin Hetzer, CMT, CIMA, CFP, is Principal and Founder of Royal Palms Capital, LLC, an independent registered investment advisory firm in Rolling Hills Estates, California. Prior to founding her firm, Ms. Hetzer provided discretionary portfolio management within...
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