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JPMorgan Chase & Co: Head And Shoulders Should Scare You

|Includes: JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co (NYSE:JPM) has a wicked head and shoulder pattern on the daily. It has not triggered yet, but if it does, you should be very scared. JPMorgan is and has been a leading indicator for the market, regardless of the lawsuits they are dealing with currently. Throughout history, where JPMorgan has gone, so has the market. Should this head and shoulder pattern trigger on a daily close below $50.00 a share, downside could result in a move to $43.00. That is a mega move for the stock and you can expect a major move in the market. Keep watch of this trend line. If you are smart, you can make quite a bit of money off it...or at least save yourself some money.

Gareth Soloway