JP Morgan $JPM has been in a recovery mode since late December, along with the rest of the market. However, an unimpressive and even negative earnings report on Tuesday (1/15) as well as resistance just above $100, suggests we should expect a bearish swing to come soon for JPM. First, let's briefly look at CNBC's coverage of the earnings report: Under CEO Jamie Dimon, J.P. Morgan has exceeded analysts' profit expectations for 15 straight quarters -- a streak that ended with the fourth quarter of 2018.Choppy markets in December have crimped trading results at J.P. Morgan, just as it did for Citigroup, which reported results Monday.J.P. Morgan also set aside $250 million more for credit losses than analysts had expected. The bank generated $1.98 per share in profit for the fourth quarter of 2018, below the $2.20 per share average estimate of analysts surveyed by Refinitiv. The biggest shortfall appeared to come from the New York-based bank's trading division, where fixed-income trading produced $1.86 billion in revenue, compared to the $2.2 billion estimate. But plunging markets also impacted the bank's asset management division and resulted in a $150 million markdown on private equity holdings. J.P. Morgan misses profit expectations for the first time in 15 quarters (CNBC) JP Morgan Daily Chart (click to enlarge) Double Top Neckline:- The daily chart shows us that price was consolidating in 2018 before breaking below the neckline of $102.50. - We can say that 2018 price action was essentially a double top, and that 2019 would likely be a tear of further consolidation and maybe more bearish correction.- So far, price has rebounded from $92. - But I think we should respect the resistance around $the 102-$103 neckline area. - If there is some market momentum, JPM might also extend the current recovery a bit, but I would limit the bullish outlook to $106, which was a key support pivot in 2018. - I would also anticipate resistance if the RSI is approaching 60. A bearish market is likely going to hold the RSI under 60, and I still believe the market is bearish, but just on a bullish correction in the short-medium-term.- I think there is at least downside back towards the $92 level, with a chance of breaking lower towards the $88 area, which is near the middle of the 2017 range.