CMC trade ideas
JPM Long Term ShortJPM has broken initial support area near the top.
Will be pyramiding a short position upon breaking of each marked level.
There is an untested area of the charted circled.
JP Morgan double topDouble top with great RSI divergence, triggered through 100SMA and neckline, MPO shows target at 86, also 50% fib and where the 3rd touch on the uptrend line could happen. Currently closed Friday at 38.2%. Still holding short, potential long when 50% fib is hit. 200SMA is coming up to it as well.
Technically one of the best stock charts I have seen, as it is also a huge percentage of the DOW, helping to forecast its movement, their charts are very symmetrical.
Frolic in the Water fall Watching these ranges. Buffett seems to be calling for a recovery.
After a leg lower
Chase Bank heading down55-60 Range is the First Support Level...may go down further
Short Sell this beast!
Long JPMJPM long from $103.28 half position. Good support here, there is a gap fill slightly lower around $101.50 I will add my second half, if we get there.
JPM: In downtrend in short term: SELL LIMITIn this case, i accept about 5% risk, and allocate like theses.
JPM - Bearish-neutral Iron CondorStock rally through till early 2018. Choppy price action with range-bound price through remainder of 2018 indicates large volume of shares exchanging hands (in other words, for a better mental picture, larger holders off-loading to more interested but smaller buyers). Expectation is neutral price discovery, with earnings report in January catalyzing subsequent direction move, which is typically bearish/downward with such price action. For now, price is attempting to find a fair value, and as such a bearish-neutral bias is bet on here.
85/90/115/120 JAN19 IRON CONDOR @ 0.67 CREDIT
General plan:
Roll if necessary & if possible mainly to reduce risk, expecially in this case due to earnings report date before expiration
Target maximum profit, unless significant profit appears early.
Comment or direct message for discussion, or on other interesting ideas!
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JP MORGAN LONGIf it brake out the next resistance line the price grow up until 200 days moving average. The last top is 112.50. This is the focus, if the price growes up that level there will more level up
Beautiful dow theory JPMJPM showed Dow accumulation/ participation phases nicely.
Can you see H&S pattern? breaking trendline ascending channel initially but now at bottom of the accumulation phase?
Probably the nicest Elliot pattern We have been looking at JPM for many years and it always amazes us with its nice pattern. If JPM is to be a proxy for the stock market in general, well we are not due yet for the end of world. Actually we sill have many years to go before dark ages comes back and prove the perennial bears right.
The icing on the cake is gone that is for sure but the bulls are not done nibbling at the cake. Not yet.
Keep an eye on JPM. Always been an excellent proxy for the stock market. Long term that is.
