jpm and the market

simply put i expect jpm to trade down to about the 50 level at least

obviously that would not be good for the overall market

Looks like we're on the same page but your targets are more aggressive than mine. My first target for JPM is a marginal new low around 75-ish.  I expect a lot of cyclical stocks to make new lows in the next leg down.  Energy, banks, insurers, mall REITs, apparel box retailers and small cap value look particularly weak.  Transports and Home builders are not that weak yet, but will also get hit pretty hard in a cyclical sell-off. 

The interesting thing is that many stocks in traditionally non-cyclical defensive areas such as staples, utilities and pharma are also breaking down.  Looks like software and internet stocks are the new defensives. 

simply put i expect jpm to trade down to about the 50 level at least

 

obviously that would not be good for the overall market

Why?

the wave structure look at the financials 

i think we will duplicate the decline we had from feb to mar 

check out the utilities they are sending a message

and i might be off by a minor wave but the larger wave structure to me

is very bearish this thing might hold up into next week i dont know but i am 

pretty sure we are heading for a very large decline