ΣL Cycle Summary
A sublime signal here in JP Morgan & Chase (JPM), punctuating the uptrend since 2021 and now peaking according to the current phasing. There is little more to add aside from saying this is a cycle one should keep an eye on as a measure for the wider financial sector, given it’s quality. It is also reflected in more broad measures, such as the XLF ETF. A test of the lows around mid December 2024 would be bearish for underlying trend.