JPM Update

Here's the back link to my prior post on JPM.  Today's chart looks like the backtest from below is just about done.  Since black 5 of the first wave down of the new bear market, JPM shares did an a-b-c consisting of 5-3-5.  If this call for "The Owl" is correct then downward movement needs to begin PDQ.

If it does not begin tomorrow then there is risk that this turns into a 4th wave and that suggests the possibility of more upside for a couple of days next week.  If JPM is going up then, the DJIA will not be moving down.  The right hand side of that potential Owl is looking a little thick so it could turn out to be part of a 4th wave triangle.  We just have to see how it plays out.  But it is very nearly done with wave 2 back up IMO.  It is important to not that while the $COMPX and S+P 500 are now higher than their June 9th peaks, JPM is still languishing at the 61.8 fib.  That's bearish non-confirmation IMO.