Financial Stocks Lead The Charge
This morning, all of the leading financial stocks are trading higher on the session. Goldman Sachs Group Inc (NYSE:GS) is the one financial stock that is trading negative after reporting earnings earlier today. J.P. Morgan Chase & Co (NYSE:JPM) is the most important financial stock that any trader can follow. Today, JPM stock is trading higher by 0.35 cents to $43.68 a share. Short term traders should watch for some intra-day resistance on JPM around the $43.75 and $44.18 levels. Should JPM decline intra-day the stock will have very good intra-day support around the $43.00 level.
Some other leading financial stocks that are climbing higher today include Deutsche Bank AG (USA) (NYSE:DB), BlackRock, Inc. (NYSE:BLK), and Credit Suisse Group AG (ADR) (NYSE:CS). As long as all of these leading financial stocks are holding up the major stock indexes are likely to hold up. On the flip side, if the financial stocks start to decline and trade lower it could be a warning sign that the major stock indexes are going to roll over and face some selling pressure.