JPMorgan is testing its macro uptrend, after successfully testing its 10-year uptrend, currently price tires to reestablish its 5-year uptrend.
Recently price has bounced up from the 10-year uptrend border, marked by 1st standard deviation from 10-year mean (at 57)
Currently price is trading around its 5-year uptrend border, marked by upper 1st st deviation from 5-year mean (at 62)
The tests are aligned with short term risk.
Failure below 10-year uptrend border will initiate also a downtrend on 1-year basis (price falling below 1st standard deviation from 1-year (264-day) mean), while failure below 5-year uptrend border indicates a downtrend on quarterly basis (price below 1st standard deviation from quarterly (66-day) mean) - which is happening now...