I wish I could find a public link for this:

Merrill Lynch just put out a very cool 60 page “primer” on Technical Analysis. It covers the core concepts behind technicals, including Trends, Relative Price Analysis, Price Momentum Indicators, Reversals, The importance of volume, Support and Resistance, Market Breadth
Market Sentiment, The Fibonacci Concept, and Putting it all together.

Of course, you could always go out and buy Edwards & Magee’s Technical Analysis of Stock Trends, but you get a very different read from practitioners working at a major wire house.

I have my own PDF (which I cannot post to Scribd for work product/copyright reasons), but if anyone knows of a public link, please share!


Primer: A handbook of the basics
Market Analysis Technical Handbook
Stephen Suttmeier, CFA, CMT; Jue Xiong, CFA; MacNeil Curry, CFA, CMT
We cover the basics of Trend, Momentum and other technical indicators and
Market Analysis | United States
Merrill Lynch 14 May 2013


Category: Digital Media, Technical Analysis, Trading

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

15 Responses to “Merrill Lynch: Market Analysis Technical Handbook”

  1. qua says:

    I did a quick search and found the March 2010 edition of this publication: (google search: Very succinct.

  2. Expat says:

    Barry, if you or someone else can get a copy, I would love to have one.

  3. MorticiaA says:


    Thanks for the heads-up. It’s not a public link but FactSet users can go to Investment Research tab, do a custom search for “Research Focus -> Research Approach -> Technical” and find the document. If you click to download you only get page one, but if you select print you get the whole document.

  4. idaman says:

    If anyone wants the report…

    just open an account at Merrill Edge. The minimum is (well, used to be) $2,500. And you get all the Macro (as well as all their company) research. Well worth the “deposit.”

    And they do a lot of macro research, and I mean a tremendous amount.

    • W T F says:

      to idaman @ May 15, 2013 at 1:52 pm:

      Very Interesting about using the Merrill Edge to obtain access to Merrill’s macro research.

      How would you rate the quality of their Merrill’s macro research in the 2007 and 2008 time frame leading into the stock market crash?

      Specifically was their research reality based? For example, did they acknowledge the disconnect between new home prices and housing rental rates in 2005 and 2006? Did they acknowledge the higher than normal default rates on mortgage backed securities issued in the 2005, 2006, and 2007 time frame has been reported in the and noted here?

      Thank you for any info you (or other informed users) can share.

      W T F

      • I try to point out worthwhile work where ever I find it.

        Can’t say I’m much of a fan of most of the big firm research, but I do try to avoid falling into the trap of over-generalization. (The way you did)

      • TheUnrepentantGunner says:

        i’d also say, on this specific point, the two most prominent people putting out research were Dave Rosenberg (who was spectacularly bearish), and Richard Bernstein, who was very spot on as well.

        A big firm has people covering all viewpoints usually, with diverse opinions, but I think Merrill held up just fine here.

  5. idaman says:

    of course, ronesser’s link works also

    • crnbry13 says:

      can anyone (Barry ?) confirm the PDF linked above (July 2007) is identical to the current edition (May 2013) ? thanks.

  6. nofoulsontheplayground says:

    That ML tutorial is pretty nice. It walks a novice through T/A without assuming a certain level of expertise. It almost looks like part of a training program for their new employees. I especially like the examples in the tutorial like INTC from the year 2000 with a handle near 100.

    Stockcharts’ Chip Anderson had a nice T/A tutorial on his site back in the day, although I haven’t looked at it in a decade, so I am not sure if it has been updated. Here’s the link to ChartSchool at Stockcharts

  7. StockTradingToGo says:

    StockCharts’s website has a great tutorial for technical analysis. I would also recommend taking a look at InvestingTeacher (shameless plug), I am a cofounder and on Tuesday we published a 156 page completely interactive ebook on technical analysis appropriately titled “The Interactive Guide to Technical Analysis” –

    The site allows you to interact with charts to draw support and resistance, answer questions, is 100% tablet friendly, has drag and drop, etc. We are pretty geeked about it. Emailed you a login Barry to take a look.

  8. kapaulol says:

    Barry, thanks for pointing this out. I have access to ML research and have downloaded the report. Anyone who wants a copy of the 2013 version hit me up with an email juanpaulo [at] gmail

    Thanks :) Looks good, haven’t gone through it myself but it’s a nice refresher.

  9. johnmav says:

    Thanks so much for this – we downloaded the 2007 and 2010 versions of the documents and ran a detailed compare against both and there are no deltas outside of date changes, minor formatting and Source references under the graphics which have remained unchanged.

    Could assume that 2013 would have analogous benign changes as well.

  10. [...] week, I mentioned Merrill Lynch’s Market Analysis Technical Handbook. I was somewhat smitten by the wire house attempt to explain the basics of technicals to a broader [...]