Chartered Market Technician (CMT) and Market Technicians Association (MTA)

THE GLOBAL REACH OF TECHNICAL ANALYSIS

During the fall of 1985, a meeting was held in Japan with technical representatives of several different countries to draft a constitution for the International Federation of Technical Analysts (IFTA, Post Office Box 1347, New York, NY 10009 USA). Since then, the organization has grown to include technical analysis organizations from more than twenty countries. One of the nice things about being a member is that annual meetings are held in places like Australia, Japan, Paris, and Rome since a different national organization hosts each seminar.

CHARTERED MARKET TECHNICIAN (CMT)

A lot of people use technical analysis and offer opinions on the technical condition of the various markets. But are they really qualified to do so? How would you know? After all, you wouldn't go to a doctor who didn't have a medical degree on the wall. Nor would you consult a lawyer who hadn't passed the bar exam. Your accountant is undoubtedly a CTA. If you asked a security analyst for an assessment on a common stock, you would certainly make sure that he or she was a Chartered Financial Analyst (CFA). Why wouldn't you take the same precautions with a technical analyst?

The Market Technicians Association (MTA) resolved this question by instituting a Chartered Market Technician (CMT) program. The CMT program is a three step examination process that qualifies the analyst to carry the CMT letters after his or her name. Most professional technical analysts have gone through the program. The next time someone offers you his or her technical opinion, ask to see the CMT.

MARKET TECHNICIANS ASSOCIATION (MTA)

The Market Technicians Association (MTA) is the oldest and best known technical society in the world. It was founded in 1972 to encourage the exchange of technical ideas, educate the public and the investment community, and establish a code of ethics and professional standards among technical analysts. (On March 11, 1998 the MTA celebrated the 25th birthday of its incorporation. The event was highlighted by a special presentation at the New York monthly meeting by three of the organization's founding members-Ralph Acampora, John Brooks, and John Greeley.) MTA membership includes fulltime technical analysts and other interested parties (called affiliates). Monthly meetings are held in New York, and an annual seminar is held each May at various locations around the country. Members have access to the MTA library and a computer bulletin board. A monthly newsletter and a periodic MTA Journal are published. MTA members also become colleagues of the International Federation of Technical Analysts (IFTA).