JPM Forecast 7/15/2015

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 turn over now that it has tested the $69 per share area, and show at least a retest of the lows near the $65-$66 per share level.