JPM, JP Morgan Chase update

jpm mar 26 2014 sjpm may 25 2014

In two months the stock went down by about 13%. This is either the start of a large down trend or, at the very least, a simple a-b-c correction. Either way we should get to $45 – the base of this wedge – before anything else. If nothing else this raises the question why Canadian banks are doing so well, perhaps a last gasp?