This morning, most of the leading financial stocks are trading higher to start the day. Generally, when the financial stocks can trade higher the major stock indexes will hold up. Traders must keep a close eye on J.P. Morgan Chase & Co (NYSE:JPM) which is the most important financial stock in the stock market at this time. Today, JPM stock is trading higher by 0.41 cents to $34.66 a share. Short term day traders should watch for intra-day resistance around the $34.85, and $35.10 levels.
Some of the other leading financial stocks that are climbing higher today include Goldman Sachs Group Inc (NYSE:GS), Citigroup Inc (NYSE:C), Morgan Stanley (NYSE:MS), and Credit Suisse Group (NYSE:CS). Traders should understand that these stocks could turn down quickly on any negative news out of Europe. All of the daily charts for the leading financial stocks look weak at this time.