...what JPM is saying is that the US market correction is nearly over, PROVIDED THAT Trump does not introduce new uncertainties (which we know he is capable of, e.g lifting tariff rates beyond what was announced because he got upset with someone).
JPMorgan analysis "suggests that the current [Momentum] retreat is 90% complete ... However, the bank also warns that if this a 'structural regime change' then the drawdown has further to go, with a potential pullback of 25% relative to the market."
