The Cup and Handle is an Important Set Up that should not be Ignored! It can be powerful!
2 Day, 10 min. - Oct. 8 - Significant gap up off of the Cup & Handle. The pundits said it was Alcoa earnings. Interesting how the market media looks of current new events to explain every market move. There is much more to it than that. Check out the next chart. The "Cup" had absolutely no knowledge of Alcoa.
10 Day, 60 min. - Oct. 8 - Cup and Handle formations is a favorite of O'Neill at Investors Business Daily. It can be a powerful indicator of breakouts. Not all Cup and Handles breakout but those that do may move with gusto.
3 Month, Daily - Oct. 8 - The Three Month, Daily is one of my favorites. It is between long term and short term and can give trends from both perspectives. The overall trend here is up.
1 Year, Weekly - Oct. 8 - The Bullish Trend continues. RSI, CCI, and W%R all compliment each other on significant market reversals and bounces. Technical Analysis is important in removing emotions from trading. That goal can never reach 100%, but the less emotion and personal opinion expressed in trade decisions, the better. The ideal is to find a mechanical model that is without flaw. That is also impossible. The truth lies somewhere in between.
.jpg){kind=small}
