Don't Ignore This Chart!

JP Morgan breaks support

JP Morgan is leading the market and the finance sector lower with a break below its September-December lows. The stock first established support in the 40-41 zone in mid August and held this zone in September, October, November and December. January is proving different with a clear break on expanding volume.

100127jpm Click this chart for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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