Financial Stocks Inch Higher

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.

About Nicholas Santiago 575 Articles


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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