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To: Perspective who wrote (161214)2/3/2008 1:08:37 PM
From: skinowski  Respond to of 209892
 
JPM on the weekly seems to be breaking out after what looks like a 3 wave decline since May of last year. It regained the trendline since 2002, as well as the 200 wk MA.

The rally since 2002 contains overlaps and it is clearly a three-waver, but more recently during this latest rally it performed outstandingly.... Anything can happen, but looks like in the short term JPM bears have reason to feel on the defensive.



To: Perspective who wrote (161214)2/3/2008 2:31:22 PM
From: Henry J Costanzo  Read Replies (1) | Respond to of 209892
 
JPM...whatever that is....breaks above DT lines in Dec and again last week, plus break above 200dMA....on heavy volume... IMHO pointing toward May highs...low 50s..



To: Perspective who wrote (161214)2/3/2008 3:50:09 PM
From: Shack  Respond to of 209892
 
I can't condone any bearish reads on JPM with the XLF breaking up out of a that big bullish wedge on the daily chart.


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