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Society of Technical Analysts (STA)

The Association of Chart and Technical Analysts (ACTA) was created in 1968, the oldest of its kind, and became the Society of Technical Analysts Ltd (STA) in November 1986. Since then, Fellowships have been awarded to those members who have either greatly contributed to the field of technical analysis or to the development of the STA. We are indebted to them all.

STA Chairpersons

  • 2021 – Present: Eddie Tofpik
  • 2018 – 2021: Tom Hicks
  • 2013 – 2018: Axel Rudolph
  • 2008 – 2013: Deborah Owen
  • 1998 – 2008: Adam Sorab
  • 1995 – 1998: Anne Whitby
  • 1992 – 1995: John Breame
  • 1989 – 1992: Robin Griffiths
  • 1986 – 1989: Philip Gray

STA Fellows

Below is a list of esteemed Fellows of the STA who have significantly contributed to technical analysis.

Richard Adcock

Fellow and former STA Director
Current Company: Adcock Analysis Ltd

Richard has nearly 40 years experience as a technical analyst. He started his career at Investment Research of Cambridge Ltd in the 1980’s, before moving into the city with Credit Lyonnais, then HSBC where he ran Technical Analysis for the futures broking desk for 10 years and UBS for 15 years, as Head of Rates and FX technical strategy. After a period at the hedge fund Brevan Howard, Richard set-up his own independent company Adcock Analysis Ltd in 2016, which he still runs. He has been both a regular conference speaker and lecturer on STA courses for many years.

Malcolm Blazey

Fellow and past Deputy Chairman of the STA

Malcolm Blazey is past Deputy Chairman of the STA. As a professional trader and analyst Malcolm has over 40 years of market experience, mainly with leading financial institutions in the U.K., Continental Europe and the Middle East. Besides heading two international dealing operations, Malcolm was Assistant Director of Quantitative Research in the International Equities Division of a major European Bank in the City of London, before setting up his own trading and consultancy company. Since 1998, Malcolm has traded financial and commodity futures for his own account, as well as running his trading consultancy.

John Breame

Fellow and past Chairman of the STA

John Breame had a long career in the City, culminating in a position as Director of a major investment bank. While he was Chairman of the STA he was responsible for instigating and running a series of annual conferences. The first was on HMS Belfast – an economical venue to reflect the fact that it was a new and untried venture for the STA. As it turned out, it was a sell out and the delegates much enjoyed the change from the more usual type of venue. Two more very successful and prestigious conferences followed.

Chris Chaitow

Fellow

Chris Chaitow went into the City in 1964 and worked for a number of broking partnerships, moving on to investment banks after ‘Big Bang’. He started studying technical analysis in 1966 and in 1986 was part of a team which developed Value and Momentum, which combined technical trends with quantitative value techniques and delivered above market performance for many years. Around 2000 he helped progress this by adding a quality measure, to develop a system known as Tricast. In the 1980s and 1990s he was regularly voted number one European technical analyst in Institutional Investor and Reuters polls.
Chris was involved in the early days of ACTA and was an original committee member. He is now retired and lives in Thailand.

David Charters

Fellow

In 1973, already with a background of technical analysis with a Liverpool stockbroker, David joined Investment Research of Cambridge Limited, doyen of the technical analysis movement since its foundation in Cambridge in 1945 by Alec Ellinger. He became managing director in the 1980s and steered the business gradually away from published analysis newsletters to practical fund management for private clients and small pension schemes.
Feeling a keen sense of urgency to educate private investors, David held many evening seminars over the years and was author of a best-selling book “Charters on Charting”, published in 1995 and serialised in the Financial Times. Over many years he also spoke for IFTA, the US Market Technicians Association and many European Technical Analysis Societies. In 2000 he took early retirement, selling the business to Brown Shipley in London and today enjoys a varied life in Cambridge.

Reg Coaker

Fellow

Reg Coaker has always been a sole trader and in the late 1960s read an article in The Investors Chronicle written by David Fuller. He concluded that charts ‘made sense’, took some courses and also began to attend ACTA meetings. He also gave some presentations, mainly on the work of Welles Wilder (the deviser of the RSI indicator). Reg was also an early developer of computer software for technical analysis, though at the early stage data feeds were a problem.
In the 1980s when Philip Gray became Chairman of ACTA he began the process of changing it to the STA. Reg was very involved in this process.

John Cuningham

Fellow

Following education at Marlborough College and Downing College, Cambridge, John decided to remain in Cambridge where he joined locally-based Investment Research, a greatly admired partnership built by Alec Ellinger, the doyen of technical analysis in Europe. Over the years John became a recognized expert in the technical analysis of UK equities and currencies and held a number of important consultancies.
As technology changed and the euro appeared, removing all the cross-rates between individual European currencies, John modified his approach and embraced the changes. He was always a highly sought-after and competent speaker, able to get the technical analysis message across to both professional and private investors; his heart was always with the former.
When Investment Research was converted into a limited company, Investment Research of Cambridge Limited, John was elected Chairman, a post which he held until his retirement.

Publications
The Art of InvestmentWiley Investment (revised edition - January 15, 2000)

 

Jeremy du Plessis

Fellow
Current Company: Indexia

In 1982 Jeremy founded Indexia Research and produced one of the first PC based technical analysis software programs. He is an expert on Point and Figure charts and has been lecturing the Point and Figure module on the STA Diploma Course for nearly two decades. He sets the Point and Figure module for the International Federation of Technical Analysts (IFTA) and is the author of the books ‘The definitive guide to Point and Figure’ and ‘21st Century Point and Figure’.

Publications
The Definitive Guide to Point and Figure: A Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting MethodHarriman House Publishing (2005)
21st Century Point and FigureHarriman House Publishing (2015)

 

Nicole Elliott

Fellow

A graduate of the London School of Economics and Political Science (BSc Social Psychology) Nicole Elliott has worked in banks in the City of London for the last 30 years. Whether in sales, trading or forecasting technical analysis has always been the bedrock of her thinking. Key expertise lies within all areas of treasury: foreign exchange, money markets, fixed income and commodities.
She has also added to the body of knowledge of the industry writing the first western book on Ichimoku Cloud Charts. Strong media links and a cult following are due to her prescient calls on the markets and often entertaining format.

Prof Ronald Giles

Fellow

Prof Ron Giles has been a lecturer at South Bank University and Queen Mary University, teaching and researching in many different areas include Errors in Economic Observations, Econometrics, Mathematical Statistics, Financial Markets and Institutions, Quantitative Finance, Behavioural Finance and Technical Analysis. Ron was instrumental in setting up the diploma courses in technical analysis for the STA. He has held visiting posts at Kent University, Birmingham University, City University of New York and Alicante University and was an honorary professor at Saratov University Russia. His previous business experience includes working for the National Institute of Economic and Social Research; United Nations Geneva; the UK Government Statistical service and Transterra Ltd.

Robin Griffiths

Fellow and former Chairman
Current Company: ECU Group

Robin Griffiths is Chief Technical Strategist at ECU Group, a role he previously performed at HSBC Investment Bank for 20 years before becoming Head of Global Asset Allocation at Rathbones, and then a director and technical strategist for Cazenove Capital Management. Robin was a Partner of WI Carr and Head of Technical Analysis at Grieveson Grant. Robin has been a member of ECU’s Global Macro Team for over twenty years.
Robin has been a regular on CNN, CNBC, Reuters and Bloomberg TV. He is a committee member and former chairman of the International Federation of Technical Analysts, and former chairman of the Society of Technical Analysts. Mr Griffiths has co-written the book “Mapping The Markets: A Guide to Stockmarket Analysis” with Deborah Owen, another STA Fellow. A keen sailor, Robin has crossed the Atlantic five times, setting a new British record in 1984 with Sir Robin Knox-Johnston.

Murray Gunn

Fellow and STA Director
Current Company: Elliott Wave International

Murray Gunn is Head of Global Research at Elliott Wave International. He has worked as a fund manager in global bonds, currencies and stocks, including posts at Standard Life Investments and the Abu Dhabi Investment Authority. Prior to joining EWI, he was Head of Technical Analysis at HSBC Bank. Murray is the author of the 2009 book Trading Regime Analysis, and a contributor to the 2017 book Socionomic Studies of Society and Culture.

Karen Jones

Fellow and STA Board Member
Previous Company: Commerzbank

Karen Jones is the former Managing Director and Head of FICC Technical Analysis Research at Commerzbank Corporates and Markets. The group was responsible for forecasting and formulating technical trading strategy globally and covered foreign exchange, fixed income, emerging markets and commodities. She has extensive experience of technical analysis spanning 30+ years. She has been voted top 3 in the world in the FX Euromoney Survey for over a decade and has won this category several times. Karen previously worked as a global FX technical strategist at CSFB (1993-1998) and as a technical analyst at Sucden (UK) Ltd (1987-1993). As well as being Treasurer for the Society, Karen is also the STA’s content editor.

Perry Kaufman

Fellow
Current Company: Kaufman Signals

Perry Kaufman is the author of the well-known Trading Systems and Methods, and more recently Kaufman Constructs Trading Systems and Learn To Trade. He is an active trader and has spent his career as the architect for trading systems used by institutions and funds, often partnering with those firms. His experience includes commodities and equities. He has traded and managed money through the U.S.-Russian wheat deal of 1973, 20% interest rates of 1980, the stock market crash of 1987, the internet bubble of 2000, and the subprime crisis of 2008, and now the Covid pandemic. He understands risk control and believes that not all trading needs to be complex to be profitable. Perry can be reached through his website, www.kaufmansignals.com.

Luise Kliem

Fellow and current STA Chief Examiner and Diploma Course Administrator

Luise Kliem is a Fellow of the STA and current STA Chief Examiner. During a 20-year City career she worked first as a commodity broker, then as a stockbroker, before becoming a full-time technical analyst. She was Senior Technical Analyst (Director of Global Securities Research & Economics) at Merrill Lynch from 1995 to 2000, then joined Commerzbank Securities as Head of Technical Analysis. Luise specialised in equity research, and was consistently highly rated in surveys such as Thomson Reuters Extel, until leaving the City in 2001.

Richard Lake

Fellow, Founder and former Chairman of ACTA

Richard Lake was one of the founders, and a former Chairman, of ACTA, the predecessor of the STA. He was also one of the earliest exponents of technical analysis among the institutional stockbroking community in London, and produced technical reports from the mid 1960s until around 2012. He was responsible for persuading a number of initially sceptical fund managers that charts could be of major assistance in their investment decisions. Richard has been a frequent speaker at technical analysis conferences over the years, both in the UK and elsewhere.

Clive Lambert

Fellow and former Vice Chair of the Society
Current Company: FuturesTechs

Clive Lambert is former Vice Chair of the STA and former IFTA Board member. Clive is the founder and director of Futurestechs, one of the UK’s leading independent technical analysis providers, established in 2000. Clients for their widely read Energy report include several of the world’s leading Oil Majors and Europe’s largest Utilities. Futurestechs’ Analysis is a 10 times winner at the Technical Analyst Awards. They are consistently shortlisted in several categories; topping the “Best Independent Research for Commodities” category for the 5th time in 2022.

Clive has 30+ years market experience including 10 years on the LIFFE floor. He has served on the STA Board from 2004-2011 and again from 2015 to 2021 and has been both a regular conference speaker and lecturer on STA courses for many years.

His book “Candlestick Charts: An Introduction to using Candlestick Charts” is on the STA reading list and is published by Harriman House.

Trevor Neil

Fellow and Former Board Member of the Society
Current Company: RRG Research

Trevor Neil was on the board which created the Society and served under four chairman for its first 10 years. He has been a trader since he was 18, when he was on the floor of the London Commodities Exchange for Merrill Lynch. He has been a broker, fund manager, Associate Director and an Investment Bank, worked again with traders on the LIFFE floor, then Global Head of Technical Analysis at Bloomberg and then ran a hedge fund in South Africa. In 2007 he returned to the UK to run BETA Group and manage his smaller systematically traded fund. Today, as well as managing his fund, he consults and teaches the institutional application of technical analysis. He has worked with many large and smallest institutions worldwide. He is recognised as the ‘go-to’ teacher of technical analysis skills in dealing rooms. He is also a Director of RRG Research.

He has presented the popular Trevor Neil’s Technical Analysis Surgery for over 15 years. This monthly webinar is hosted by Refinitiv and promotes the good and practical use of technical analysis in professional environments

Deborah Owen

Fellow, past Chairperson and Head of Education

Deborah Owen served as STA chairperson (2008-13), head of education (2013-16), IFTA board member (2012-15) and was the editor of the Society’s Journal, The Market Technician, for over two decades. She also sat on the STA’s ethics and grandfathering committees.
Deborah is the Managing Editor of Investment Research of Cambridge Ltd. and has co-written the book “Mapping The Markets: A Guide to Stockmarket Analysis” with Robin Griffiths, another STA Fellow. She is a visiting professor at Queen Mary, University of London.

Publications
Mapping The Markets: A Guide to Stockmarket AnalysisEconomist Books (7 Sept. 2006)

 

Tom Pelc

Fellow

Current Company: Fortus Wealth

Tom Pelc has over 35 years’ experience in the financial markets. He is the founder of Pelc Enterprises Ltd an advisory to financial institutions and high net worth individuals and is also Chief Investment Officer at Fortu Wealth working with high-net-worth individuals and family offices. He also is a director of a Hedge Fund, (Amalfi Capital).
His was formerly employed by Nomura International plc for 7½ years as a Managing Director as the Co-Head of Macro Technical strategy. Travelled the globe speaking with central banks, pension funds and hedge fund clients and Asset Managers. Prior to Nomura, Tom spent 11 years as the Head of Technical Strategy at RBS plc. Before that he was a trader and portfolio manager at a hedge fund responsible for a $2 billion portfolio trading listed and OTC Euro and US products. He was in the top 15 of the McLagan list of traders for commission generation.

Tony Plummer

Fellow
Current Company: Helmsman Economics Ltd

Tony has worked in financial markets for more than 40 years, and currently researches group behaviour in financial markets and economic activity. He is also on the investment advisory committee of the Osiris Property Fund, and is a trustee of two pension funds.
Tony is a Fellow of the STA and was, until recently, a Visiting Professorial Fellow in economics at Queen Mary, University of London. His seminal book ‘Forecasting Financial Markets’ is now in its 6th edition and has been translated into a number of languages. More recently, Tony has had two books published. The first, ‘The Law of Vibration’, was published in 2013. This book addresses the source of, and theory behind, the wisdom of William D Gann. The second, ‘The Life Cycle Hypothesis’, was published in 2018. This book explores the idea that there is a fundamental, and very specific, pattern of evolution behind fluctuations in financial markets and in economic activity.

Publications
Forecasting Financial Markets: Technical Analysis and the Dynamics of PricePublisher: John Wiley & Sons; Revised edition (Mar. 1991)
The Law of Vibration: The Revelation of William D. GannPublisher: Harriman House Ltd; 1 edition (25 Mar. 2013)

 

Robert Prechter

Fellow
Current Company: Elliott Wave International

Robert R. Prechter, Jr, CMT, is President, Elliott Wave International and Executive Director, Socionomics Institute. He has written 14 books on finance, beginning with Elliott Wave Principle in 1978, which predicted a 1920s-style stock market boom. His 2002 title, Conquer the Crash, predicted the beginning of the 21st century debt crisis. In December 1989, Financial News Network (now CNBC) named him “Guru of the Decade.” In 1999, Bob received the CSTA’s first annual AJ Frost Memorial Award for Outstanding Contribution to the Development of Technical Analysis. In 2003, Traders Library granted him its Hall of Fame award.

Publications
Conquer the Crash: You Can Survive and Prosper in a Deflationary DepressionJohn Wiley & Sons; 2009
Socionomics: The Science of History and Social PredictionNew Classics Library; 2003
Elliott Wave Principle: Key to Market BehaviorNew Classics Library; 1998
At the Crest of the Tidal Wave: A Forecast for the Great Bear MarketJohn Wiley & Sons; 1997

 

Martin J Pring

President
Current Company: Pring Research

Martin J. Pring is the president of Pring Research and Chairman of Pring Turner Capital group, a money management and sub-advisory firm. Pring.com provides research to individuals and financial institutions around the world through the publication of the Intermarket Review, a monthly synopsis of the long-term technical position of the world’s principal financial markets, now in its 35 fifth year. In addition, he writes a monthly Chinese research report for institutional investors on their equity market.

He is the author of over 15 investment books; one of the more well-known ones is the classic, Technical Analysis Explained (TAE), now in its fifth edition. TAE is used by international technical societies and many universities for training and was required reading for the CMT certification for several decades. Others are his Investment Psychology Explained, cited by Worth Magazine as one of the fifteen best investment books of the last 150 years, as well as The All-Season Investor and Active Asset Allocation. He has also written Martin Pring’s Complete Guide to Technical Analysis: An Indian Perspective, released in 2010 by Shroff Publishing in Mumbai.

He is widely acclaimed by his peers and has received the Canadian Society of Technical Analysts‘s Jack Frost Memorial Award as well as the CMT Association’s coveted Annual Award. He has also been made an honorary member of the Swiss Association of Market Technicians as well as a fellow of the UK Society of Technical Analysts.

His latest endeavor, launching in late 2019, is an interactive, web-based compilation of all his video/DVD educational training courses. In his usual casual and informative style, Pring.comU offers over 15 hours of video training in the art of Technical Analysis; each lesson is followed by an interactive quiz. Pring.comU will be available on his website under the banner “Pring University”.

Malcolm Pryor

Fellow

Malcolm Pryor has been a private trader and investor for over two decades. He is a graduate of Van Tharp’s “Super Trader” programme, and the author of several books on trading. He is a lecturer and examiner for the STA Diploma Course, a contributor to the STA Home Study Course, and a lecturer for the STA course “Technicals to Trading Systems.”

Representing England, he had success in international bridge events, including winning a Silver Medal in the 2019 World Championships.

Axel Rudolph

Fellow, Former Chairman and STA Head of Education
Current Company: IG

Axel Rudolph is Head of Education at the Society of Technical Analysts, and former STA Chairman (2013 to 2018). Prior to becoming chairman he was responsible for education and program organisation at the STA for six years. He has been a lecturer on the STA Diploma Part 1 and 2 courses at King’s College University London, London School of Economics and Queen Mary University of London for over two decades. From 2007-2010 Axel was Vice-Chairman Europe on the board of the International Federation of Technical Analysts (IFTA).

Axel is currently a senior technical analyst at IG Group. Previously he has been a director and senior technical analyst at Commerzbank, Dow Jones’ Chief Technical Analyst for Europe and a bond, derivatives and proprietary trader in Paris and London.

Michael Smyrk

Fellow

Michael Smyrk is a past Board Member and a Fellow of the STA. He started charting in the commodity markets in 1965, and – although now retired – continues to use technical analysis for his private investments. He is a firm believer in the power of ‘the crowd’.
Michael is an examiner for the STA Diploma Part 2 Examination. His previous experience covers ground as varied as Floor Trader to Head of Research at two leading international brokerages. He has spoken at conferences across the world, and was for some years a lecturer on the STA/South Bank University Diploma Course and the STA/LSE Diploma Course.

David Sneddon

Fellow
Current Company: SnowHill Consulting

David Sneddon is a globally respected analyst/strategist with over 30 years industry and financial markets experience.
David began his career at Investment Research in Cambridge prior to joining Credit Suisse in 1994. From 2007 he was Global Head of Technical Analysis within the Investment Bank and subsequently also the Private Bank and Wealth Management divisions. He brings a unique range of skills honed over many years of being involved at senior levels across Investment Banking, Private Banking, and Institutional Wealth Management. David was a key participant to the Investment Banking and International Wealth Management global investment committees, presenting cross-asset technical and macro views and themes along with assisting in the formation of the House View.

David has led extensive client marketing programmes to a global client base ranging from owners and leading PMs at some of the largest global Hedge Funds, Family Offices, Asset Managers, Pension Funds, Banks, Central Banks and Sovereign Wealth Funds.

Adam Sorab

Fellow and past Chairman of the STA
Current Company: Aptior Capital LLP

Adam Sorab was STA Chairman from 1998 to 2008 and President of IFTA from 2010 to 2013. He currently serves as Non Executive Director of the STA Investment Committee, having been one of its founding members in 2016. Adam is a seasoned investment professional with over 40 years of experience in financial markets, hedge fund management, and bank proprietary trading. He is currently a Partner at Aptior Capital LLP, a hedge fund manager specialising in distressed debt and special situation credit strategies across Europe.

Previously, he held similar leadership roles at other hedge fund managers, including CQS, DB Absolute Returns, and CSFB’s Leveraged Funds Group. He also served as an independent member of the BUPA Pension Fund Investment Committee from 2006 to 2018. Before his career in hedge fund management, Adam worked as a proprietary sales trader at JH Schroder Wagg & Co. and other banking groups. He began his career in finance in 1984 after graduating from the London School of Economics with a BSc in Economics.

Henry Southworth

Fellow
Current Company: AfricaAway

Dr Henry Southworth was for several years the editor of ‘The Chartist’ (as the STA magazine was then known), whilst conducting research into technical analysis at the University of Birmingham. Following on from this he set up and managed a technical analysis-based futures fund, before turning to the property market instead. After setting up and managing a UK-based student housing property fund, he then invested in property in Spain, from which followed the establishment of SpainAway, a tour operator focusing on Spanish holiday rentals. Presently his time is spent running an offshoot of this – AfricaAway – which specialises in organising safaris in sub-Saharan Africa. A long way from technical analysis perhaps, but with a just about identifiable route in between!

Mark Tennyson d’Eyncourt

Fellow

Mark Tennyson d’Eyncourt started in the market in 1963, with Durlachers, arguably the leading equity jobber of the day. After spells with Govetts (later Hoare & Co Govett) and Scrimgeours, he moved into fund management with Wallace Bros Sassoon, just before the great bear market of 1973-74. This was when he started to look at technical analysis seriously, when, clearly, fundamental analysis wasn’t working. For ten years he ran the Qatar Investment Office in London, providing strategic advice for the state reserves. He joined ACTA in 1984 and the Committee in 1986, just before its incorporation as STA. For some years he has been involved with Programme Organisation and also acted as Company Secretary. He was honoured with a Fellowship in December 2009.

Simon Warren

Fellow

Simon Warren was Head of Investments at Bupa for seven years with responsibility for £3.7bn of assets and £1.1bn of debt. Prior to that he was Deputy Treasurer and Head of Front Office trading where he was responsible for all transactional and FX hedging.

Simon is a Fellow of the Association of Certified Accountants and began his career at Bupa in 1987 as an accountant before moving over to the Treasury and Investment areas where he utilised his Technical Analysis and Charting skills to add value. Simon was Treasurer of the STA from 2003 to 2018 and was also a Director of the International Federation of Technical Analysts for three years where he was Chairman of the Finance Committee.

David Watts

Fellow and STA Board Member

David is a Trading System Consultant and professional engineer. He first became involved with the LIFFE markets after being commissioned to provide IT support and write a trading model for a number of LIFFE traders in 1992. Since then he has used his engineering expertise on a number of innovative trading projects. Commissions include the implementation of Dunnigan’s One Way Formulae, a technical trading model, the production of a number of swing timing models for traders within the Butterworth Group (1997-2000) as well as providing time series analysis tools for clients in the banking and fund management industry.

David was made a Fellow in 2023 in gratitude for all the work he has done and continues to do as a member of the STA Executive Committee.

Anne Whitby

Fellow and past Chairman of the STA

Anne has been a technical analyst for over forty years. She started her career at Chart Analysis Ltd., working for David Fuller, and was Managing Director of the company from 1986 until she left in 1995. After that Anne went to set up a new technical analysis department at 4CAST Ltd., a company established in late 1994 to provide multi-media research to institutions. She left in 1999 to accept a position at a large investment bank, but after a brief spell was convinced that she was happier in smaller, and particularly new companies.
Anne is a past chairman of the STA and also a past board member of IFTA. While she was STA chairperson, the formalised courses for the Diploma examination were started at South Bank University.

Donald Cornelius

Fellow and second ACTA Chairman (d. 2014)

After initially starting to train as an accountant, Donald moved to stockbroking in 1953.
In 1968 he became one of the 3,000 members of the London Stock Exchange, but was bought out when personal memberships ended and companies took over. He was a partner in several firms over the years, and became an expert in warrants, and later in traded options. In 1973, with the Ionian Bank, he floated an investment trust, Archimedes, which specialised in geared securities, and remained a director of the company for its life. During his career in the City he also became a Freeman of the City of London.
Donald was a founder committee member of ACTA (the precursor of the Society of Technical Analysts) and became its second chairman. He frequently lectured about charts and their uses in investment decision making. He retired in 1990 and died on 25 October 2014.

John Cameron

Fellow and former Head of Education and Chief Examiner (d.2025)

John Cameron is a former Director of the STA. He retired in 2012 after a long career in technical analysis and teaching. He was instrumental in setting up the STA’s educational programme and for over a decade held the position of Head of Education and Chief Examiner. In 2024 the STA instituted a scholarship award in his memory. John died in September 2025.

“Alec” Ellinger

Fellow and Founder Member of ACTA (1904-1989)

Alexander (aka Alec) was born in 1904, Oxford educated and a stockbroker in the City before the war. He founded his own investment consultancy and investment management business, Investment Research, in Cambridge upon being demobbed in 1945. Alec was one of the first few to take the brave step of advocating investment in equities rather than gilts in the post-war era. How right he was.
“The Art of Investment”, which Alec co-wrote with another STA Fellow, John Cuningham, was published in 1955 and has since been reprinted many times. It was the first European book to introduce readers to charts and combined their usage with investment management techniques. He also co-authored “A Post-War History of the Stock Market” with another STA Fellow, Thomas H. (aka Harvey) Stewart, and wrote five more pamphlets. Alec became one of the founders of ACTA, now The Society of Technical Analysts, and was also a member of The Society of Investment Analysts (now CISI); he remains the only person ever elected as a Fellow of both.

Publications
The Art of InvestmentWiley Investment (revised edition January 15, 2000)
A Post-War History of the Stock Market: The Chartists' ViewImprint unknown (November 27, 1980)
Using Share ChartsInvestment Research (June 1972)
Commodities: The Best SpeculationInvestment Research (March 1969)
Why I Use ChartsInvestment Research (1964)
How You Lose Money On The Stock ExchangeInvestment Research (1962)
Using Market TrendsInvestment Research (1960)

 

David Fuller

Fellow (d. 2019)

David Fuller gave his first presentation to the STA (then ACTA) in 1970 when it was a fledgling organization. As he said, “we were convinced that we had an important analytical methodology that few people in the City understood. That view has never changed although we often debated the relative effectiveness of different TA methodologies.”
David was Managing Director and later Chairman and owner of Chart Analysis Limited, a research firm which was one of the first to publish weekly chart books in the UK, largely Point & Figure. It was a Dickensian process in those days, as some wonderful analytical colleagues will recall, not least Anne Whitby. The latest version of his research firm is www.fullertreacymoney.com, a somewhat interactive service. This site uses mostly Candlestick charts. Over the years David also gave many courses and talks on technical analysis, his basic approach being behavioural and factual technical analysis – in other words, nothing theoretical.

 

Elli Gifford

Fellow (d. 2004)

Elli Gifford first became known as a technical analyst when she worked at Investment Research in Cambridge in the mid 1960s. From the late 1970s until 1986 she specialised in the commodity and futures markets, initially at Eurocommodities then at Rudolf Wolff, where she rose to be the Director of Research, responsible for both the technical and fundamental teams. In 1986 she returned to the newly incorporated Investment Research of Cambridge Limited and remained there until 2000.
In the 1986 change from ACTA to STA, Elli was one of the leaders. She was a regular speaker at meetings, as well as at other conferences and seminars, and an active teacher of technical analysis. She was also involved in the early days of the International Federation of Technical Analysts (IFTA).
Elli wrote two books on technical analysis, ‘Money Making Matters’ and ‘The Investor’s Guide to Technical Analysis’. She died in April 2004.

Publications
Money Making MattersImprint unknown (January 1981)
The Investor’s Guide to Technical AnalysisFinancial Times/Prentice Hall

 

Philip Gray

Fellow and first Chairman of the STA (d. 2021)

Philip Gray had over 30 years’ international experience in all aspects of investment banking, especially investment management and stock broking. He had also been a director of various companies listed on the UK, Zurich, Frankfurt and Johannesburg stock exchanges, and director of an ASX listed industrial company.
Philip was the leading figure in the change from ACTA to STA in 1986, when the Society became a company limited by guarantee, and was the first STA Chairman. He was a frequent speaker at technical analysis conferences over the years. In addition he has been Chairman of the Hong Kong Society of Investment Analysts. Philip was also a Fellow of the Institute of Directors. He died on 15 January 2021.

 

Brian Marber

Fellow (d. 2018)

Brian was the first fund manager in the UK to manage large funds using only technical analysis, and for six years from 1976/81 was voted best technical analyst in the City. Also in 1980 he was quoted as having the best FX forecasting record in the world. During the 1980s Brian was a Member of the Visiting Faculty at IMI in Geneva, Europe’s oldest business school. In 1981 he founded Brian Marber & Co, at one time the world’s largest independent FX consultancy, and in 1990 started managing FX accounts.
In 2007 Brian published “Marber on Markets” in the UK. It was subsequently published in India in 2008 and in China in 2010.

Publications
Marber on MarketsHarriman House Publishing (2007)
Read Obituary ›

John J Murphy

Fellow (d. 2026)

John J Murphy, former technical analyst for CNBC, was author of several popular books including Technical Analysis of the Financial Markets. His three books on intermarket analysis created a new branch of market analysis emphasising global linkages. His latest book, entitled “Trading With Intermarket Analysis – A Visual Approach to Beating The Financial Markets Using Exchange Traded Funds” was published by John Wiley in 2013. The International Federation of Technical Analysts (IFTA) recognised his accomplishments with an award for outstanding contribution to global market analysis in 2014. He was also a recipient of the Market Technicians Association Annual Award. John relied heavily on Exchange Traded Funds (ETFs) to implement global asset allocation and sector rotation strategies. His intermarket approach bridged the gap between economic, fundamental, and technical analyses. He was the chief technical analyst for Stockcharts.com website.

 

Publications
Trading With Intermarket Analysis – A Visual Approach to Beating The Financial Markets Using Exchange Traded FundsJohn Wiley & Sons (2013)
The Visual Investor: How to Spot Market TrendsJohn Wiley & Sons (2009)
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications: Study Guide (New York Institute of Finance)Prentice Hall Press (1999)

 

 

Ian Notley

Fellow (d. 2008)

Ian was born in Australia, but moved permanently to Canada in 1974, where he made his name in technical analysis. He created what became known as the Trend & Cycle Department at a major investment house. In the late 1980’s he went out on his own, forming Yelton Fiscal to become an independent research provider.
Ian was also one of the founders of both the CSTA (Canadian Society of Technical Analysts) and IFTA, and was the creator of the Walkabout sessions at IFTA conferences.
Ian died in May 2008, and in partnership with the MTA Educational Foundation, the Ian S Notley Memorial Award on Cycles Research was inaugurated in 2010.

Francoise Skelley

Fellow (d. 2008)

Francoise (‘Fran’) built a world renowned technical team and created many innovative products at Credit Suisse/CSFB from 1992 to 2008. In her role there she genuinely made a difference to the spread of technical analysis in the financial industry. Her approach to market analysis was rigorous and thorough; professionalism at its peak.
In addition Fran also made significant contributions to the STA, and was a member of the 1994/95 Forward Planning Committee, which produced a number of considered recommendations for the Society’s future development. She also joined the American Association of Professional Technical Analysts, founded in 2004.
Fran died aged just 45 on 11 August 2008, taken far too early.

“Harvey” Stewart

Fellow (d. 2002)

Thomas Harvey Stewart, aka “Harvey”, was educated at Trinity College, Cambridge and after graduation remained in this city, joining Alec Ellinger’s growing and much respected investment management and consultancy business where he soon became a partner. Harvey developed the Commodities, and later Futures, side of the business and for many years wrote the regular weekly “London Commodity Charts”, a publication which gained a transatlantic audience and was, at one stage, flown by Concorde every Friday night. He co-wrote with Alec “A Post-War History of the Stock Market“, describing and reasoning the fluctuating fortunes of the post-1945 equity and gilt markets. A charming and extremely sociable man, Harvey was much admired by those who met him. He died in 2002.

Publications
A Post-War History of the Stock MarketInvestment Research, 2nd revised edition January 15, 1973

 

Eustace Storey

Fellow (d. 1990)

Eustace Storey was a stockbroker, born around the beginning of the twentieth century, and must be considered the doyen of technical analysis in the United Kingdom, having constructed his first chart in 1928. He wrote a book on his price plus volume method, which was based on the idea that the volume of shares was less important than the number of bargains done. He also concluded that historic highs and lows for both market indices and individual shares were characterized by similar price and volume action.
Eustace was totally committed to charting in various forms and wrote many articles in the Investor’s Chronicle and other publications. He was a market man who established a strong track record over many years.

Publications
The Eustace Storey Way To Stock Market ProfitsWarwick Publishing (Mar. 1980)

 

Bronwen Wood

Fellow, developed the STA’s formal qualification in technical analysis (d. 2002)

Bronwen was instrumental in developing the STA’s formal qualification in technical analysis, and apart from teaching courses for the STA Diploma, in the early years she wrote and marked all the papers. She was a Board member from 1986 until 1993, when she went to work at Adia in Abu Dhabi, and was also a long-standing member of the board of IFTA and of its executive committee. Through this connection, she was widely respected throughout the world, as well as in the UK, as an outstanding technical analyst and an expert in the teaching of technical analysis.
Bronwen died on 30 December 1992, aged only 60. In her memory, the Board of the STA voted to create an annual award for the best Diploma paper, which is known as the Bronwen Wood Memorial Prize.