Understand U.S. stocks by asking “who is moving the market.”
Elnath Finance Academy provides general, impersonal market-data methodology, industry and earnings research, and a regularly scheduled daily brief. We believe transparent methods and a verifiable process are worth more than any promise.
For educational and informational purposes only — not investment advice or a personalized recommendation.
What we do
Three content pillars
All general and impersonal — no entry/exit calls, no single-stock trade instructions.
Market-data methodology
S&P 500 point contribution and Sector-ETF constituent contribution — a transparent way to see which stocks are actually driving the index.
Learn moreIndustry & earnings research
General, impersonal industry views and earnings deep-dives that emphasize method and sources — never entry/exit calls.
Learn moreDaily market brief
A regularly scheduled, audience-wide market snapshot and news roundup, delivered to your inbox by email.
Learn moreAbout the founder
A methodology-first researcher, not a tout
Elnath Finance Academy was founded by Howard — a Master of Science in Finance candidate at USC Marshall and a CFA Level I passer. Our content emphasizes data sources, calculation methods, and reproducibility. Every market figure is computed by code with an open method — never gut-feel stock tips.
Meet our positioning and methodOur principles
- Show the process, not promises
- Numbers computed by code, methods kept transparent
- General and impersonal — no single-stock trade instructions
Latest research
Research
What We Call “Working” Is Not What You Call “Making Money”
The first two articles tested 20,934 chart patterns and 49 technical signal types. Both returned zero. But readers keep asking the same question: then why do some people make money? Half the answer is not in the data — it is in the definitions. We never measured profit, our shortest holding period is one trading day, and we require a signal to survive an average of 2,661 occurrences while a trader needs only their own few dozen trades. Change nothing but the benchmark and the share of test cells that "work" falls from 81% to 22%.
8 min read49 Technical Signals, Zero Passed
Moving averages, stochastics, RSI, MACD, Bollinger Bands, candlestick patterns, Fibonacci retracements, plus multi-timeframe trend conditions — 49 signal types, 1.78 million events, 11,025 test cells, and zero survived FDR correction. But the real story is this: following my own written specification produced 5 significant findings, four of them Fibonacci. What stopped them was a control run I did not strictly need — because the control produced 5 as well.
14 min read20,934 Chart Patterns, Zero Passed
A point-in-time reconstruction of S&P 500 membership from 2000 to 2017, 20,934 detected chart patterns, three layers of benchmark, and a multiple-testing correction. Of 245 test cells with adequate sample size, zero survived. The scope is chart patterns only — RSI, MACD, stochastics and the rest were never tested. This article is about that zero, about an intermediate conclusion I had to retract, and about a question the study cannot answer: even if you do beat the index, is the excess worth what it costs you.
33 min read