Seeking Alpha

InTheMoneyStock...'s  Instablog

InTheMoneyStocks.com
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
InTheMoneyStocks.com
My blog:
Pro Traders Rant and Rave Blog
  • Financial Stocks Hold All The Cards 0 comments
    Feb 2, 2012 11:08 AM | about stocks: JPM, GS, BAC, C, MS, XLF
    The leading financial stocks have been rallying higher since late November 2011. Many traders have discovered that J.P. Morgan Chase & Co (NYSE:JPM) seems to be the most important financial stock in the market at this time. This stock remains very strong on the daily chart. JPM stock is trading above the important daily chart 50, and 200 moving averages which signals strength in the near term. Traders must watch the big resistance levels that will approach around the $40.00 area. This is a level where the stock will face some major headwinds. Often, the action in the financial stocks will dictate the moves in the overall stock market indexes, therefore, this stock market rally could hold up until that time. JPM stock will have intra-day resistance around the $38.25 area.

    Some leading financial stocks that are trading higher this morning include Citigroup Inc (NYSE:C), Bank of America Corp (NYSE:BAC), and Goldman Sachs Group Inc (NYSE:GS). While all of these stocks are very important it is JPM stock that leads these markets these days.

    Nicholas Santiago
    InTheMoneyStocks.com

    Stocks: JPM, GS, BAC, C, MS, XLF
Back To InTheMoneyStocks.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.