Just about every price chart lately looks like a one-way move higher, but in scanning through various charts earlier, we were struck by how steep and one-directional the move in JP Morgan Chase (JPM) has been over the last two months. Besides a handful of days with red bars, the stock has seemingly done nothing but go higher each day.
So, just how impressive has the move over the last two months been? In the last 40 trading days, JPM has finished the day higher 30 times. While we don’t have price data going back to the days of J.P. Morgan himself, going back to 1980, the current frequency of positive days over a 40 trading day period has never been seen.
More By This Author:Overbought Breadth Not Going Away
The AI Race is Closer Than It Seems
Global Rally
