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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?

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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