The stock chart on JPMorgan Chase & Co. (NYSE:JPM) is hanging on by a thread to support. Investors should be very wary about being long the bank stock as big money continues to exit quietly.
Based on countless technical signals, JPMorgan Chase appears to be getting ready to break lower. What is so interesting about this is that JPMorgan is set to report earnings later this week. This may strongly indicate they will miss earnings and/or talk about the less likely chance of Dodd-Frank being undone. Either way, when the trend line shown on the chart below breaks, the stock has major downside to $77.00. Based on calculations, it is just a matter of days until the stock breaks lower. Be ready!