JPM, update

The usual then, June 25th 2013, and now charts;

jpm june 24 2013jpm mar 26 2014

3/4 of a year have passed and nothing has changed except that the stock is up about 20% as predicted. The bank has paid billions in fines and compensation and has lost eleven of fifteen top management people. Recently it managed to regain all value that it had shed since 1999 by double topping and even adding some. Nevertheless the count is not any clearer; we are either in the c of a larger B-wave, or we are doing a 5th wave after a fairly extended triangle. Triangle measurements would suggest a top at, alternatively $65 or $70 Looking at the short term charts;

jpm mar 26 2014 sjpm mar 26 2014 m

the picture does not become much clearer. The and PMO have a little more room left to go, perhaps as in a throw-over in a diagonal or wedge. What is clear is that the upside is limited. We would exit here or apply a tight running stop. Alternatively we would short the stock if it moves up another dollar.