NEW YORK ( TheStreet) - Markets fell Thursday, as many analysts believe equities have reached a near-term peak.Bonds, equities and precious metals were bid higher throughout October as investors believed the Federal Reserve would keep bond purchases intact. The Fed did say on Wednesday that it will keep its policy in place, but it still ignited a sharp selloff as its comments were more hawkish than investors had expected. The Fed, however, made little to no reference to slowing down its bond purchases soon. NFLX) and Tesla Motors ( TSLA) have dropped as investors have preferred the more defensive consumer-staple sector. Meanwhile, financial stocks such as JPMorgan Chase ( JPM), picture below, have remained weak. Although JPMorgan has its own massive legal issues, the bank's weakness is no less bearish for the broader market. The stock made a large head-and-shoulders pattern on its hourly chart throughout October.