Financial Stock Slide Despite Market Rally
This morning, many of the large financial stocks are declining from the highs at the start of the trading day. Leading financial giants such as Goldman Sachs Group Inc (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co (NYSE:WFC), and Citigroup Inc (NYSE:C) have given back the bulk of their gains from the opening bell.
WFC stock has actually gone negative on the trading session. Day traders should watch for intra-day support around the $41.23, $41.00, and $40.80 levels. JPM stock will have intra-day support around the $53.42 level intra-day. Both companies will report earnings tomorrow morning before the opening bell at the New York Stock Exchange.