Trend Signal Now: The Market Hangs on JPM

Monday, March 9, 2026

The Market Hangs on JPM

When we talk about market bellwethers, we're referring to large-cap stocks that tend to signal the broader market's direction.

These are companies with outsized influence — heavily weighted in major indexes and deeply tied to the health of the economy.

One name that fits that description perfectly is JPMorgan Chase $JPM.

As the largest bank in the world and one of the most important financial institutions in the global system, JPM checks every box.

Its leadership — or lack of it — often tells us a lot about the tone of the overall market.

That's why I tend to treat JPM almost like an index itself. In many ways, as JPMorgan goes, so goes the market.

Right now, the stock has been locked in a sideways range for roughly six months. During that time, momentum has quietly reset on both the daily and weekly timeframes on the Strazza Indicator — something that often happens before a big directional move begins.

Here's what the chart looks like:

Given how long price has been compressing, I think the next move out of this range could be powerful.

Consolidations like this tend to build up a lot of stored energy.

The key level I'm watching is the polarity zone near 290.

That's where the VWAP from the April lows converges with the 261.8% extension of the 2021–2022 base, creating a confluence of support.

As long as JPM holds above that level, the risk remains skewed in favor of the bulls and an upside resolution becomes the more likely scenario.

However, if price starts losing that area, it could signal that the bears are beginning to take control — and that would likely have implications for the broader market as well.

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Alfonso De Pablos, CMT

Director of Research, All Star Charts

Alfonso De Pablos, CMT | Director of Research, All Star Charts

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