JPM Forecast 7/7/2015

JP Morgan Chase (JPM) has exhausted itself to the upside, and is poised to set up a shorting opportunity. We are watching for a lower high to form to raise the odds for reversal to acceptable levels. Our expectation is that this market will rally towards the $69 per share area, and show us the kind of bearish energy as it rallies that will allow us to rate this a three diamond entry.