JPM Short worth a look here

 Here's the bearish ascending wedge pattern we see throughout the market, the yellow box is the head fake breakout and the red arrow is a high volume breakaway gap, which is very bearish.

 Intraday JPM is giving the gift of some strength to short in to, the yellow box is the break away gap which may be filled, but I would think JPM would see more downside before attempting that, or it may not be filled at all. In any case, that's your defined risk level.

 JPM 5 min in the area of the wedge, a clear distribution mode can be seen before earnings. We talked about this last week.

The 30 min chart has had positive and negative divergences on the way down, but the most obvious divergence is a large negative one right now.