JPM and the Market

Just to show you how meaningless JPM is, other then the headline "Beat", I want to show you two charts. What JPM did/does is irrelevant, earnings season just needed some good news to juice the market as we were seeing accumulation yesterday. This should tell you something, we saw distribution in AA, accumulation in the market yesterday, Wall Street is run like a chess board with W.S. thinking several moves ahead and I don't know how they can do this without leaks which I think are very real. The AA negative divergences suggest to me that some powerful people knew what was going to happen at earnings, the market accumulation yesterday with JPM being the only significant co. to report today, again leads me to believe that they had this planned out and to do that they need some certainty.

Back to the irrelevance of JPM and this is why I wasn't interested in putting out an earnings call on JPM because it didn't really matter what happened to JPM after the market got it's juice.

 JPM may very well recover a bit here, right now it's at unchanged where it deserves to be in my opinion.

However, once filling the gap, the SPY put in a 5 min positive divergence and is up nearly half a percent. The point was never JPM, it was just a tool.