[JPM] update

In the backlink I was modeling the rising wedge as WC but per below it turned out to be W3.  A few cents higher busted that model and any short seller using EW for entry and stop points would have escaped with only minor damage of a percent or two. 

Looking forward, I model JPM as again being at or near a significant top.  It's not gut feeling, it's what the modeling tool called EW is signaling.  With the data I have, it looks like this is a massive 4th wave HT in e wave throwover.  Each of the subwaves breaks down into a-b-c as you would expect for any kind of triangle or wedge.  Right now I think we are working on wave 5 of green 5 of red C of black e. 

The lower blue vertical measures the length of green 1 and since green 3 was extended green 5 should be about the same length as green 1. As you can see by the cloned and moved vertical, we are within a stone's throw of this being satisfied.  Maybe this is done right here, maybe it has a couple bucks left in it, 72-73 tops but more than likely it dips soon and then forms a declining double top.  When the banks go down everything goes down because they are a critical part of the confidence game of using debt in order to drive growth.

So let's step back and look at the big picture.  The bankers, through the use of fake money (i.e. fiat currency and debt) have thrived whereas the backbone of the real economy (commodities) have gotten killed.  Fake part time jobs abound while real full time employment has waned.  Stocks with intrinsic value of zero along with the dollar have soared in value while gold and silver have gotten decimated.  Corrupt Hillary is worshiped by the gullible masses while sage Ron Paul is treated as some kind of kook.  Never mind that Paul-esque Ross Perot warned us about that giant sucking sound.  Never mind that conservative Perot was right and everyone who laughed at him as they laughed at Ron Paul have all been wrong.  They are still winning at this point because they are on the side of Mammon Money.  But this is peaking and will soon enter the collapse stage.  When the foolish liberals all realize that they have been scammed there is going to be a huge backlash against the S-System that has used Mammon Money to turn common sense in all things on its head.

When the banks begin to go into freefall, that's when it will pay to have preparations in place because there are a number of possible outcomes that are not good at all.