JPMorgan lost $14.40 Tuesday. It closed $337.64 — the exact floor of its 90-day range.
That was a one-way session. Opened at the high of $352.18, bled all day, finished at 1% of the range. No bounce into the bell.
And it happened while six of ten names on the board closed green. This was a financials event, not a market event.
The Call
Financials stay offered while JPM trades under $352.04, and the AI complex keeps the leadership baton. Lower oil and softer yields coincided with Monday's broad rally, and that mix squeezes lender margins rather than helping them.
| Symbol | Close | Change | Day range | 52-week range |
|---|---|---|---|---|
| AMD | $619.02 | +3.50 (+0.57%) | $606.68–$621.91 | $154.78–$621.91 |
| V | $364.34 | -5.61 (-1.52%) | $363.31–$371.57 | $293.89–$385.57 |
| JPM | $337.64 | -14.40 (-4.09%) | $337.50–$352.18 | $279.10–$366.50 |
| TSLA | $376.62 | +1.32 (+0.35%) | $372.91–$379.26 | $297.38–$498.83 |
| META | $748.76 | +7.51 (+1.01%) | $730.00–$757.14 | $520.26–$785.73 |
| AMZN | $255.37 | -3.09 (-1.19%) | $253.83–$258.99 | $196.00–$287.20 |
| GOOGL | $358.52 | +3.55 (+1.00%) | $357.23–$364.09 | $235.84–$408.61 |
| NVDA | $228.63 | +1.25 (+0.55%) | $226.58–$229.58 | $164.27–$236.54 |
| AAPL | $343.57 | +4.59 (+1.35%) | $338.79–$345.28 | $243.42–$345.28 |
| MSFT | $495.00 | -6.61 (-1.32%) | $494.32–$508.00 | $349.20–$553.72 |
One caveat. JPM's break printed on the second-lightest volume on the board at 190,102 shares. Thin tape — the level is real, the conviction behind it is not yet proven.
Priority Board
JPM — $337.64. Down 6.2% over 30 sessions. Sits at the base of the 90-day range, 7.9% under the 52-week high. A close back above $352.04 invalidates the break.
V — $364.34. Sixth straight red close. Gapped up 0.42%, tagged $371.57, closed in the lower quarter of the range. That's the tell — payments usually decouple from balance-sheet lenders. They didn't. $355.74 is the 90-day low that matters.
AMD — $619.02. Set a 52-week high at $621.91 and closed in the upper fifth of the range. Up 22.9% in five sessions. Below $606.68, the momentum case cracks.
AMD's five-session gain of 22.9% against NVIDIA's 7.7% is a fifteen-point spread inside the same AI trade. The leadership has narrowed, not broadened.
AAPL — $343.57. New 52-week high at $345.28, third green close, 11.5% higher over 30 sessions. We called a close above $344.57 earlier this month and it expired unfilled. The level got tagged intraday, never on the bell. Wrong on timing, right on direction.
MSFT — $495.00. Gapped up 1.18%, ran to $508.00, closed at 5% of the range. That is a failed gap. Our below-$490 call from Sunday is still live and expires tomorrow.
META — $748.76. Gapped down 1.37%, reversed, closed in the upper third at a 90-day high. Up 11.2% in five sessions. We had this one lower in the $650s and got run over. Momentum flipped hard and we were slow to it.
Exposure Check
- Working: Semis and large-cap communications. NVDA at $228.63 on a sixth green close, 3.3% under its 52-week high. Chip-analyst enthusiasm reported by CNBC coincided with the bid.
- Not working: Financials as a group. JPM and V are the only two names near the bottom of their 90-day ranges.
- Watch the fades: GOOGL gapped up, touched $364.09, closed at 19% of its range. Fifth green close, weakest internals of the five.
- Cross-read: Piper Sandler's price-target cut coincided with a 5% drop in Cisco. Growth-peak concerns are being expressed name by name, not sector-wide.
- What flips us: A JPM reclaim of $352.04 with real size, or an AMD close under $606.68. Either one and the barbell read is dead.
Pre-Open Watch
- JPM $332.00 — fade
- AMD $621.91 — press
- V $355.74 — fade