• 13 hours Gold Is Still A Safe Haven, But Not Very Alluring
  • 21 hours What Does CHina’s EV Slowdown Mean For The Battery Metals Sector?
  • 2 days COVID Report Cards Will Brand Businesses Forever
  • 2 days Trump Tweet Sends Oil Soaring 25%
  • 3 days Why The Coronavirus Economic Crash Is Worse Than You Think
  • 3 days Is A Global Currency Necessary?
  • 4 days America Has Shed 500,000 Millionaires Since The Coronavirus Lockdown Began
  • 4 days Trump Wants Another $2 Trillion Economic Intervention
  • 5 days The Surprising Businesses Deemed “Essential” During The Coronavirus Lockdown
  • 5 days Priceless Van Gogh "Spring Garden" Painting Stolen
  • 5 days Oil Falls To $20 For First Time In Nearly Two Decades
  • 5 days COVID-19 Could Be The End Of U.S. Coal
  • 6 days How Much Does Your Social Security Number Cost? $4 On The Dark Web
  • 7 days Silver Stocks Have Been Decimated In The Coronavirus Sell-Off
  • 8 days How Blockchain Tech Could Make Mergers And Acquisitions More Efficient
  • 8 days America’s Shortage Of This Metal Keeps Trump Up At Night
  • 9 days Bidet Bonanza: Defying The Toilet Paper Shortage
  • 9 days U.S. Auto Sales Fall By 75%
  • 10 days Violating Quarantine? Big Brother Is Watching
  • 10 days Does Gold Still Have Some Room To Run?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Joseph VanDerveer

Joseph VanDerveer

Joseph VanDerveer is the Chief Technical Analyst with 8 years experience in the trenches trading the markets with a brand new website and service

Contact Author

  1. Home
  2. Markets
  3. Other

Cup With Handle

Nasdaq Composite

I expect we will have new highs in Dow Jones, S&P 500, and the Nasdaq by next week. This is actually a better set-up to short but does not mean this trio will all make new highs next week.

The chart below is of the Comp., with a cup and handle chart pattern.  You may have to use a little imagination, but it is there.

Some technicians will argue about definitions of patterns till they are blue in the face.  I am happy for them, but the name of the game is probabilities.

Using the one particular cycle on the chart, notated in blue, we may have a reversal coming up.  There are other cycles of importance that also converge soon, and my subs are all aware of this.

NASDAQ Composite Daily Chart

Be prepared for the next time and price projection and above all preserve your capital.  This is a game of probabilities.

August will be a great month for trading,  I hope everyone profits this month, good luck.

 

Back to homepage

Leave a comment

Leave a comment