JP MORGAN strong correction underway within 17-year Channel Up.

JP Morgan Chase (JPM) has been trading within a 17-year Channel Up since the March 2009 market bottom of the U.S. Housing Crisis. In early January 2026 the price hit the exact top of that multi-year pattern and got rejected.

The March - April post Iran - U.S. war bottom rally got again rejected 30 days ago and a new (red) Channel Down is emerging, which seems to be the driving pattern of a recurring technical correction that has taken place another 4 times within this Channel Up.

Essentially, those have been the Bearish Legs of the pattern and in the past 5 months we've been on the latest. The current Top formation even looks like a Head and Shoulders (H&S) pattern aiming at concluding a 1-year long Bear Cycle.

Such have historically been most major corrections within this pattern, with the last two (2022 Inflation Crisis and 2020 COVID crash) bottomed near the 1M MA100 (red trend-line), which is the utmost long-term Support and the one before (2015) bottoming on the 1W MA200 (orange trend-line).

With the 1W RSI currently on a huge Bearish Divergence (Lower Highs against price's Higher Highs) since March 2024 (similar to previous corrections also), we expect the stock to drop to at least $240.00, which like 2015 will make contact with both the 1W MA200 on a similar -29% correction.

That would still be a 'mild' correction compared to the others, not only in % terms but also because the 0.382 Fibonacci retracement level, which has historically always been hit on corrections, sits lower at $113.50.

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