Financial Stocks Lead Markets Again

One sector that has lead the stock markets higher has been the financial group or the large major banks. Stocks such as J.P. Morgan Chase & Co. (NYSE:JPM), Wells Fargo & Co. (NYSE:WFC), and Bank of America Corp. (NYSE:BAC), have been leading the markets higher since December 1, 2010.  These stocks continue to remain strong on the charts at this time.

Well Fargo & Co. stock has pulled back from it’s intra-day high that was made at 10:30 am EST. The stock will have good short term intra-day support around the $32.95 area. This is a level where scalp traders can look for a bounce in the popular bank stock.

About Nicholas Santiago 576 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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