JPMorgan Flashback – From Correction To Bullish Continuation
Since then, the market has responded almost exactly as anticipated.
JPMorgan is now seeing a strong recovery after completing only three waves down from the 340 highs, which is a constructive and bullish development. The fact that the decline unfolded in a clear three-wave structure suggests that the move was corrective rather than the start of a larger bearish trend.
Adding to this bullish outlook, price has now broken out of the corrective channel, confirming that the pullback was temporary. The reaction from the February 2025 high—which acted as support—further reinforces the idea that buyers have stepped back in with conviction.
With the correction likely complete, the technical picture now points toward a continuation higher. Under typical wave structure behavior, a completed A-B-C correction within a broader trend is often followed by a push toward previous highs. In this case, that places focus on a retest of the 338 area, with potential for even further upside if a fifth wave extension develops.
The 300 level now stands out as an important support zone, offering a potential area of interest for buyers on dips.
Highlights
Three-wave pullback completed, confirming a corrective move
Breakout from corrective channel signals a bullish shift
Upside continuation expected, with a retest of highs in focus
Support on pullbacks around 300
Earnings on April 14 acting as a potential catalyst
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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