Fill The Gap: The Official Podcast of the CMT Association
Episode 32: Ari Wald, CMT, CFA
Sep 11, 2023
Ari Wald, head of technicals at Oppenheimer, discusses the current market landscape including the potential catch up of value to growth, Europe's acceleration, and the investability of the energy sector. The chapter also explores the importance of technical analysis in an uncertain market, the relationship between the dollar and the equity market, and the use of proven indicators in technical analysis.
01:07:59
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Quick takeaways
- Overlaying technical analysis onto the investment process increases the probability of success by identifying stocks with emerging momentum
- Analyzing market breadth is essential to confirm bullish signals and identify market tops, with the Russell 2000 index serving as a key indicator for internal breadth
Deep dives
The Importance of Momentum in Technical Analysis
Ari Wald, chief technical strategist at Oppenheimer, discusses the significance of momentum in technical analysis. He explains that while fundamentals provide the why for investing, technical analysis focuses on the when. By overlaying technical analysis onto their process, they rank stocks based on their momentum. They use momentum as a starting screen and look for emerging momentum that is just starting to break higher. The goal is to increase the probability of success and identify stocks that are pointing up. This combination of fundamentals and technicals allows for a systematic and rules-based approach to decision-making.
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