Truthfully, the chart set-up in JPMorgan Chase & Co. (JPM) heading into this evening's earnings does not provide me any "wink and nod" directional edge.

Significant and consequential resistance hovers between 63.15 and 64.60, which includes a recent negative crossing of the 50-Day EMA beneath the 200-Day EMA (The dreaded "Death Cross!”), and will have to be hurdled to trigger a meaningful Buy Signal.

Conversely, important, strong support rests between 60.50 and 58.50.

Only a sustained breach of the support zone will confirm that all of the action since May 2015 represents a still-developing medium-term top formation.

Right now, if only because the juxtaposition of the 50- and 200-Day EMAs is negatively sloped, and pressing on the price structure, my bias is to the downside for JPM.

Mid Day Minute

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