jamison.gaddy

10% downside if $62 is lost

NYSE:JPM   JP MORGAN CHASE & CO
GS             was clear signs of buying or bullish absorption earlier this year. Early April             GS             pullback to test and define the number of "weak hands" that were remaining. The test produced very little selling and resulting in price finding bids into resistance.

Now that the "gap" is closed there appear to be very little demand and a weak close for the week would imply that we trade lower to retest the conviction of previously identified bulls. If so longs could be exposed to 10% risk.

Good Luck
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