Loading ...Straight From The Textbook
Seriously, this is picture perfect stuff. On the left is what Investopedia has to say about ‘cup & handle’ chart formations. On the right is the HUI as of today…
Surely, the entire investment/trading community must be seeing this ???
Peter Brandt would definately put that on his annual “best dressed” list of classic chart patterns.
This posting obviously deserves all sorts of superlatives.
Anything can happen. There are no certainties. However the cup and handle pattern is about the surest of patterns.
I just don’t see the psychological resistance to this way of thinking unless it’s because people have been burned too often jumping in with too much too soon. Maybe people are trying to counter-jinx themselves with pessimism. I don’t know.
From many perspectives things look pretty good for those who are reasonably positioned in reasonable shares but have some cash in case for some strange reason things don’t work out.