Russell 2000 Cup and Handle

Comments? There are multiple instances of this formation in the market right now.

 

Looks like a pan to me....LOL

No I think the cup and handle happened already although the handle was kind of small.

 

During what time period do you think the handle was completed?

 

I think your Fibinacci retracement is misplaced. It should go from the July Low to the December high. You have it going from the July low to the MAY high. It's backwards.

EDIT: Just noticed I was looking at it upside down!

 

I don't think the handle is suppose to be above the cup.

http://www.investopedia.com/terms/c/cupandhandle.asp

 

Edit: It could definitely be a cup and handle, but the pattern has to complete until it actually is one.

 

Not a cup and handle.

At best, right now, it's an ill-formed bull flag. Or just a horizontal flag, with no clear direction (yet).

In any case, in my view, it's currently sitting on or just below the uptrend from mid-July. Old support becomes resistance, so best to use a different time frame or just wait for something to be confirmed. jmho.