Financial Stocks Lead The Rally

This morning, all of the leading financial stocks are catching a bid higher. This is the first real bounce for the important sector in about a week. The most important financial stock in the market is J.P. Morgan Chase & Co (NYSE:JPM). This leading financial stock is is trading higher by 0.68 cents to $41.30 a share. Short term traders should watch for intra-day resistance around the $41.50, and $42.00 levels.

Some of the other leading financial stocks that are inflating higher today include Citigroup Inc (NYSE:C), Well Fargo & Co (NYSE:WFC), and Credit Suisse Group (NYSE:CS). Usually, the major stock indexes will hold up when the financial stocks are strong. The financial sector accounts for roughly 14.0 percent of the S&P 500 Index.

About Nicholas Santiago 575 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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