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About Us

A Letter from Dr. Robert McHugh:

We started publishing technical analysis newsletters back in June 2003. We want to thank all of our subscribers for your loyalty and patronage. Many of you have been with us since the beginning. Over this period of time, we have had the pleasure of serving more than 20,000 different subscribers at one time or another. Our members have run the gamut of university students, Professors, individual investors managing their own portfolios, professional Money Managers, Hedge Fund Managers, and a few "who's who" multi-billionaires everyone would recognize.

We have always tried to provide an array of services that meet the needs of most investors and traders.

Some history: We started out providing a U.S. Daily and Weekend Market Forecast newsletter back in 2003, which included our proprietary key trend-turn identifier indicators, the Purchasing Power Indicator, the Secondary Trend Indicator (which was originally known as our Technical Indicator Index), Primary Trend Indicator, and Demand Power / Supply Pressure Indicator. We added Elliott Wave Mapping and Investor Psychology-determining Pattern charts, our proprietary Phi Mate Turn date cycle trend turn identifier, and a host of other key indicators such as Hindenburg Omens and Bradley model turn dates.

In 2005 we started an additional newsletter, a separate International Stock Market newsletter, and have continued to add major stock indices to this report. We added a Conservative Portfolio model in October 2006 in anticipation of the coming Great Recession (which outperformed the S&P 500 by over 50 percent during that economic collapse). In 2011 we added a Platinum Trading Program showing speculative Options ideas on underlying Exchange Traded Funds on major markets. In 2016, we added more conservative Exchange Traded Funds Trade ideas to our Platinum membership program. In 2020 we added a Silver-Service subscription showing Exchange Traded Funds Trade ideas. 

I decided to start this Technical Analysis business after leaving my previous life in corporate banking where I started a commercial bank from scratch and guided it as Chief Operating Officer to a size of several $billion in little over a decade. During that time I personally managed a securities portfolio over one billion $, and served as President of the Investment company. In doing so, I quickly came to realize that markets too often did not move in concert with economic news, and that these strange things called technical analysis reports that came across my desk were incredibly accurate at forecasting trend turns, both short and long term.

Intrigued and convinced, after the commercial bank was sold, obtained my Ph.D degree in Finance, with a concentration in Technical Analysis, where I developed many of the indicators that presently appear in our newsletters. I came to know and respect many of the legends of the unique "out-of-the-box" Technical Analysis of Markets profession. Many of those great men have passed on, and fortunately many remain active in the business. The one constant has been that this science of technical analysis of markets is a huge tool to generating investment and trading profits, and enhancing portfolio performance.

So, after nineteen successful years, and always exciting and entertaining times it seems, here we are, and thank you for your time and memberships over the years. I have gotten to know many of you. It has been a pleasure.

Best regards,

Bob McHugh, Ph.D. 

Main Line Investors, Inc. is dedicated to the preservation of capital in turbulent economic times, while offering conservative and aggressive investment educational impersonal strategies in prosperous times.

We offer both technical and fundamental market research and analysis, pulling together the key artifacts affecting equity, precious metals, currency, bond, and interest-rate impacted markets.

Our approach is to sift out the ratings-driven, self-serving “spin” the media and many Wall Street firms place upon market news and developments. We come clean with the truth each week in a concise, fun, and easy-to-digest executive summary for wise, fully-informed decision-making.

This newsletter service is not offering users specific investment advice, as that would require our knowledge of one's risk appetite, experience, and financial position, but rather focuses on general short-term trading opportunities via our key trend-finder indicator signals, as well the big picture, forecasting probable forthcoming market paths. Our signals can be incorporated in one's investment or trading strategies, but we suggest you consult your financial advisor before relying upon them. Our signals are not trading advice. We also offer a conservative balanced investment portfolio dynamic model with regular transactions that can be followed daily for the purpose of idea generation. The thinking here is, investors who can obtain market probabilities greater than 50% have a huge advantage, and it is our aim to assist in that process. We have developed buy and sell signal indicators for the blue chip S&P 500 and Dow Industrials, as well as for the Russell 2000, the NASDAQ 100, and the HUI Amex Gold Bugs index.  These are breadth momentum, and supply and demand measures.  We also generate daily Demand Power and Supply Pressure measurements for the S&P 500 and the NASDAQ 100 which provide subscribers with information regarding the quality of each day's move, and whether buyers or sellers were more responsible for that day's move. For example, major declines cannot occur without rising supply pressure. We monitor that every day.

Here's how to understand how we view the various technical analysis bodies of study that we cover and present regularly: 

We trade off our key trend-finder indicators, the Purchasing Power Indicators and the Stochastic signals. We do not trade off of Elliott Wave, or Cycle analysis, or Analogs, or Patterns, or Divergences, or Seasonals or other interesting technical analysis we present. If our rhetoric points out risks over the horizon from these supportive technical tools, that is perfectly appropriate background information so that we can be ready for turns. However, we trade the PPI and Stochastics, the 10 day average Advance/Decline Line Indicators, but not the other stuff. Hope this is clear. Our PPI and Stochastic indicators are objective, market data generated indicators, with no judgment, opinion, or bias skewing them. Our Purchasing Power Indicators have performed brilliantly in the S&P 500, Dow Industrials, and NASDAQ 100, and HUI against the odds of Elliott Wave analysis, cycles, seasonals, percent above indicators, analogs, divergences, and patterns. The 10 day average Advance/Decline Line Indicators have performed quite well. This doesn’t mean EW, patterns, divergences, analogs, seasonals, or cycles are not worth studying. Quite the opposite. They prep us, map for us, identify risks, confirm the PPI and Stochastic signals, and give an overall flavor of intermediate-term potential in trends. If rallies occur against the grain of this vast body of technical analysis, it alerts us to possible interventions. We present these market analysis approaches as supportive to the guts of this newsletter, which is our key trend-finder indicators, and 10 day average Advance/Decline Line Indicators as summarized on pages one and two of every issue.

Q. How do we combine the risks noted in the supportive technical analyses studied versus what our key trend-finder indicator signals suggest? A. We increase or decrease the amount invested, tighten or loosen stops, raise or lower price targets, etc… Our key trend-finder indicators measure breadth momentum (14 day and 30 day Stochastics, and A/D Line Indicators), and measure Supply and Demand momentum (Purchasing Power Indicators).

If one is not a risk taker, or not a trader, but want a solid, sleep-well-at-night, investment strategy, we offer the conservative balanced investment portfolio which is shown in the Guest Articles section as a model for ideas. Some segments of that portfolio will make use of our key trend-finder indicators as well. We update this regularly and present a month-end inventory snapshot of where we stand after that month's transactions, also in the Guest Articles section.Transactions are reported in the daily and weekend newsletters as they occur.

 Please keep in mind that the forecasts made in our reports are strictly the opinions of our authors, and are presented as probabilities on the dates issued, for educational purposes only. There are no guarantees, and readers should take caution – for example, by checking with their Registered Investment Advisors – before acting upon any statements contained herein.

Robert McHugh, Ph.D. is President and Chief Executive Officer of Main Line Investors, Inc., and the proprietor of the Technical Indicator Index TM. He was the Chief Financial Officer for two of the largest regional commercial banking corporations in the America for two decades, and has a Doctoral Degree in Finance and a Masters Degree in Business Administration. Dr. McHugh has testified before the U.S. Congress on Federal Reserve matters, and is the author of over a dozen published articles on investment related topics. He has appeared on CBS radio and been quoted in The Wall Street Journal. Dr. McHugh is the author of the book, The Coming Economic Ice Age, Five Critical Steps to Survive and Prosper, Thomas Noble Books, publisher, (c)copyright 2013available at

In addition to authoring McHugh's Financial Forecast & Analysis newsletter each week, Dr. McHugh was formerly a Registered Investment Advisor with Main Line Investors, Inc., but only offers Publishing services, and does not offer Portfolio Wealth Management Services to individuals and businesses. All services are intended as educational only, and you should contact your investment advisor before acting on any information provided. This information is impersonal in nature, and is not investment advice.