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JPMorgan Chase: Major Long-Term Top Formation Brewing

Bruce Kamich

Let's see what the charts say about this key financial and member of the Dow Jones Industrial Average (DJIA). In this daily bar chart of JPM, below, we can see that prices of JPM declined sharply in the fourth quarter. The daily On-Balance-Volume (OBV) line declined from June to December, telling us that sellers of JPM were more aggressive.