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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
InTheMoneyStocks.com

Stocks: JPM, GS, C, MS, XLF