JPM — All updates

Next, a few financial companies were under pressure today and we will start with JPM on the weekly timeframe. It has dropped by 3.42% today and you can clearly see the price falling below the other tail zones on the chart at 343.15.

Now , if we close the week below the 343.15 level, this will increase the likelihood of further downside for JP Morgan with the next support right here on the upward trend line at $325.14.

I was talking to Jamie Dimon that day and he pointed out this particular stock. This is also a good stock and looks to be in excellent condition. Yes, this falls under the category of "still performing very well".

He had a very good week after that , with a decent high tail , but has since declined. But it is showing considerable relative strength at the moment, and has performed well since it corrected its course, since it took off and established its market value, and set its lowest levels in April.

It has been on a very strong upward trend ever since .

We have JPMorgan Chase stock as your first choice. What do you see in JPMorgan Chase right now? Uncertainty. A lot of uncertainty. Not only JPMorgan, but the entire financial services sector (XLF) has surprisingly seen strong buying activity.

With regard to JPMorgan specifically, I am less interested in the technical aspects. I know the stock is currently at a record high, but I will simply take a sell position. On November 20th, I will buy put options at 340.

I will sell put options at 330 for them. This is a price difference of $10, executed at a cost of $2.90.