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    JPM Play the Break or Fade the Break?

    November 20, 2019

November 20, 2019

JPM Play the Break or Fade the Break?

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Another way to say it will the market continue to trend or will be correct. To dig deeper, will be a break to new highs and follow through with a similar rate of change as has been booked thus far since the 10/3/19 low?  Or, will it fail and sell-off, form an inverted “V” shape top and give back gains with a high rate of change?

CT’s featured chart shows JPM at an extreme. With the market in both L-T and I-T resistance zone. Plus, the longer-term chart on the left reveals an uptrend that is old, feeble, and persistent but due for a change, as well as the I-T basis in the weekly bar.  <more below>

The Short Term chart has the TEM model recycling to a fresh Techcnail Event #2, suggesting a high rate of change trend is back by the tension in the market. Like all volatility models, it does not indicate a direction, even in the face of the media’s bias of referring to stock market sell-offs as volatility.

However, the bigger picture of the JPM divulges that a 13-year horizontal triangle was the springboard for this breakout. As such, a post triangle thrust is terminal trends, not the kick-off of a new one.

Watch this space.

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