The JPM (JP Morgan Chase & Co) long-term swing/trend trade, first posted in this July 20th trade ideas video as a setup with a sell signal to come on the minor uptrend line (which triggered shortly afterward) has just hit the first downside trend target (T1) for a 12% profit. (Not to be confused with the recent counter-trend rally/bounce trade). Consider booking partial or full profits and/or lowering stops if holding out for any of the additional targets. Previous (July 20th video screenshot along with the Sept 8th & Sept 11th charts) and updated daily chart below.
JPM July 20th video screenshot
JPM daily Sept 8th
JPM daily Sept 11th
JPM daily Oct 27th
Nothing has changed on my very near-term (bullish, at least for today & quite likely early next week… although far from locked into that view) or longer-term (bearish… still pretty convinced of that one at this time) outlook for the stock market. A quick glance at the charts of the largest bank helps paint the bigger picture of what a bear market initial leg down (late 2021 to mid-Oct 2022), subsequent bear market rally (mid-Oct ’22 to July 31st) and start of the next leg down (Aug 1 – current) looks like. The stock market doesn’t go straight up or down so I’ll continue to do my best to post objective entries & exit points in order to help navigate all the zigs & zags along the way.