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Monday, December 8th, 2008
JP Morgan’s Expanding Triangle
Just dropping an interesting chart.
For well over a year now, JPM has been bounded by a very large expanding triangle formation. In late November, it appeared that the pattern would finally resolve to the downside. However, the recent market strength and some easing of credit conditions has shot price back into the boundaries of the expanding triangle pattern. JP Morgan Chase is a hundred billion dollar plus business; which makes the massive volatility unsettling.
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