Over the last six months JPMorgan Chase & Co (JPM) has created a broadening formation, which at this point is a bearish indication that JPM will continue lower. This formation indicates JPM could drop to around 25 over the coming months. If the S&P takes out the lows, which were set back in January, it is going to put major pressure on the whole financial sector. It might actually be the financial sector that brings down the S&P.



Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.