Personally, I do not call this a "cup & handle" and have included the definition that Bill O'Neil, of I.B. D. fame, uses. I have always viewed C&H as a bullish formation formed after a run to new highs, not a bottoming one.

 

 As a general rule, cup and handle patterns are bullish price formations. The founder of the term, William O'Neil, identified four primary stages of this technical trading pattern. First, approximately one to three months before the “cup” pattern begins, a security will reach a new high in an uptrend. Second, the security will retrace, dropping no more than 50% of the previous high creating a rounding bottom. Third, the security will rebound to its previous high, but subsequently decline, forming the “handle” part of the formation. Finally, the security breaks out again, surpassing its highs that are equal to the depth of the cup's low point.

 

Don't get me wrong, the chart is "bullish", imo, I just don't see it as a C&H. FWIW, this new top looks pretty weak to me and I would be expecting a pullback of 10% to 20% fairly soon.