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Financial Stocks Are Weak Early

|Includes:C, GS, JPMorgan Chase & Co. (JPM), MS, XLF

This morning, all of the leading financial stocks are declining lower. J.P. Morgan Chase & Co (NYSE:JPM) is considered the most important financial stock in the United States. This stock will often lead the major stock market indexes. Today JPM stock is trading lower by 0.39 cents to $43.40 a share. Short term traders should watch for intra-day support around the $43.15 and and $42.64 levels. The daily chart will still have support around the $41.00 level.

Some other leading financial stocks that are coming under early selling pressure include Goldman Sachs Group, Inc. (NYSE:GS), Citigroup Inc. (NYSE:C), and Morgan Stanley (NYSE:MS). Please remember the financial sector will likely be very volatile over the next few months as all of these stocks have some relationship to the European markets.

Nicholas Santiago

Stocks: JPM, GS, C, MS, XLF