Institutional Macro Intelligence
Objective, not Subjective
Independent, quantitatively tested market timing intelligence for professional investors.
Delivered through concise audio-visual research and conference calls.
Designed to identify emerging trends, to distinguish genuine from false breaks and to improve timing across G10 macro markets.
Three disciplines, rarely found together
Macro financial market research typically offers only one of three services:
- a validly tested quantitative model, with no market interpretation;
- a discretionary technical analysis view, either untested or with weak quantitative attributes;
- a coherent and intelligent macroeconomic interpretation, with no quantitative validation.
Quando Analytics combines all three into a single service: - a fully-tested quantitative model (applying technical analysis concepts of momentum and trend);
- a discretionary overlay of market-timing indicators;
- a personal interpretation of these by a highly experienced analyst, via audio-visual podcasts and conference calls.
Quantitative Model
This applies the principles of behavioural finance systematically, identifying both the timing and the conditions in which markets move from ranges into trends and back again, highlighting asymmetric risk opportunities for investors.
Performance is tested with academically recognised methods, including walk-forward optimisation and transaction costs but avoiding look-ahead bias.
The model is NOT designed however to identify simply those signals with the most impressive Sharpe Ratio, Calmar Ratio, maximum drawdown or similar metrics; these often indicate excessive curve-fitting. The model focuses instead on generating more robust indicator settings for signals which remain consistent in all market conditions, across similar timeframes and even asset classes.
The aim is a stable plateau of consistency and stability, not a lucky peak which cannot be repeated successfully.
Discretionary Overlay
With kind permission from DeMark Analytics LLC, a greater precision of market timing is provided through a personal application of the DeMark Indicators™. These highly popular indicators are most famous for their contrarian anticipation of potential exhaustion in trends. They are shown here purely in the context of the quantitative signals, rather than in their own terms.
Macroeconomic Interpretation
Most quantitative models and discretionary technical analysis offer signals with little context. Quando Analytics does not provide pure macroeconomic research; it interprets however the breadth of quantitative and discretionary overlay signals across major asset classes as an additional outlook on broad macroeconomic themes, through the lens of applied behavioural finance. This remains grounded in the principle that markets are driven by measurable changes in the mass psychology of participants.
Weekly analysis allows a deeper look at non-core medium-term signals and influences, while weekly conference calls permit individual, anonymous testing of ideas and themes.
Core Principles
Objective analysis
To support investors with systematically tested sentiment research that can be applied with confidence alongside primary investment strategies.
Quantitative application
To validate models of momentum and trend using industry-standard backtesting and optimisation techniques.
Practical intelligence
To distinguish genuine breaks into new trends from false breaks, and to help identify when established trends may instead be at risk of exhaustion.
Independent perspective
Built on decades of direct market experience, technical analysis expertise, and quantitative testing.
Research Services Overview
Research is delivered through audio-visual podcasts that highlight signals from both systematic models and discretionary DeMark Indicators™. These are designed to remain accessible across desktop and mobile devices, both in and outside the office.
Subscribers also have direct access to the analyst through a weekly conference call, allowing current macro risks and opportunities to be explored in greater depth. Subscribers remain anonymous to one another and may submit questions in advance on an anonymous basis.
About Tim McCullough
Tim McCullough is the founder of Quando Analytics and has nearly 40 years of market experience spanning proprietary trading, market strategy and quantitative research.
He was previously Bloomberg’s primary London-based expert in technical analysis and backtesting, and has deep experience of how institutional investors combine technical and quantitative methods with conventional fundamental processes. His work also incorporates DeMark Indicators™ as a discretionary overlay within a broader systematic framework.
For further information, sample research and pricing, please submit an enquiry using your institutional email address.