Financial Stocks Tell You Everything
This morning, many of the leading financial stocks are fading from their gap higher open. Some of the leading financial stocks that every trader should follow is JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs Group Inc (NYSE:GS), and BlackRock, Inc. (NYSE:BLK). As long as these stocks hold up the major stock indexes are likely to hold up. Should these stocks start to decline or sell off then it is an indication that downside could be in the cards for the major stock indexes.
Today, leading financial stock JPM is trading higher by 0.17 cents to $52.25 a share. Day traders should watch for intra-day support around the $51.75, and $51.44 levels. Both levels depending on the intra-day chart pattern could be bounce areas for the stock.