[JPM] update

JPM put in 5 waves down and I suspect that this recentl top rail bump is probably the end of a deep vee 2.  If this is the case we should expect a rapid and dramatic break below that lower orange rail.  For those who fancy near term options, this is the setup you should be looking at.  The June 2015 $50 puts are $0.38 at the bid, $0.40 at the ask, last of $0.39.  Can you imagine what a sudden break down through the lower rail would do to those?

For the record, this is something I would make a speculative buy of trying to catch the very top of the chart but if it broke upward above the top rail I would head for the door pretty quickly.

If this is about to head down into a 3rd wave then $50 could get taken out pretty quickly folks... well before June expiry.