FOR IMMEDIATE RELEASE

KEVIN LAPHAM, CMT AWARDED THE MARKET TECHNICIANS ASSOCIATION’S 2009 CHARLES H. DOW AWARD

NEW YORK, May 6, 2009 - Kevin J. Lapham, CMT, of Ned Davis Research, Inc. (www.ndr.com), has been selected by the Market Technicians Association (MTA) to receive the 2009 Charles H. Dow Award. Mr. Lapham’s paper titled Using IPOs to Identify Sector Opportunities presents a way to use initial public offerings (IPOs) to improve on measures of broad market sentiment by providing a more detailed view of sentiment at the sector level. Using IPOs with other indicators or models can achieve a better perspective of sentiment and supply and demand forces that may influence market sectors.

Since 1994, the MTA has presented the Charles H. Dow Award for excellence and creativity in technical analysis. The papers honored with the Award have represented the richness and depth of technical analysis. The Charles H. Dow Award, which carries a prize of $4,000.00, is the most significant recognition in the field of technical analysis.

“This paper enriches the tradition of top tier research set by those who have received the Charles H. Dow Award,” said George A. Schade, Jr., CMT, and the MTA’s Dow Award Committee Chair.

“I am very honored, humbled, and excited to be the recipient of the 2009 Charles H. Dow Award. I wish to thank the MTA for sponsoring this award and providing the opportunity for my work to be recognized. I would like to express my gratitude to my colleagues and my family who supported me during my research project,” said Kevin Lapham, CMT.

This Award will be presented at the MTA’s 2009 May Symposium, which is held from May 14th – 15th, in New York City. For more information on the MTA May Symposium, and the Charles H. Dow Award, please visit www.mta.org.