Will the Market Breakout?

"Technical Analysis - A method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. Technical analysts do not attempt to measure a security's intrinsic value, but instead use charts and other tools to identify patterns that can suggest future activity."

I would like you to review this before you continue reading.

Dow Jones

DIA: A trust that corresponds to the price and yield performance of the Dow Jones Industrial Average.

S & P 500

SPY: The Trust is an exchange-traded fund that was created to provide investors with the opportunity to purchase a security representing a proportionate undivided interest in a portfolio of securities consisting of substantially all of the common stocks, in substantially the same weighting, which comprise the Standard & Poor's 500 Composite Price Index.

Using technical analysis to predict future activity, the cup and handle pattern tells us that a breakout is imminent. Are we ready for a breakout? One thing is for sure, the NASDAQ (QQQQ) displayed a similar pattern a few weeks ago:

NASDAQ

Now take a look at the results:


So, will the market breakout? I will use a quote from Les Miles, "I Like our chances."