This morning, most of the leading financial stocks are trading higher on the session. Often, when the financial stocks trade higher the major stock indexes will hold up. The most important financial stock in the market is J.P. Morgan Chase & Co (NYSE:JPM). Today, JPM stock is trading higher by 0.52 cents to $37.51 a share. Short term traders should watch for intra-day resistance on JPM stock around the $37.87, and $38.25 levels. The daily chart of JPM will face important chart resistance around the $38.75 area.
Some other leading financial stocks that are trading higher today include Citigroup Inc (NYSE:C), Goldman Sachs Group Inc (NYSE:GS), and Morgan Stanley (NYSE:MS). The financial stocks have been a market leading sector for a while now. These stocks are good leading indicators for how the trading session may end up by the closing bell. Should the financial stocks start to fade or decline it could indicate overall stock market weakness.
