This morning the major financial stocks are all on the weak side. As we all know last week the large major financial stocks all traded higher after the financial regulation bill. The bill is to be signed by President Obama.J.P. Morgan Chase & Co (NYSE:JPM) is trading lower today by 0.40 cents. This stock is the leading bank stock in the stock market. The stock will have intra-day support around the $38.65 area. The daily chart is still very sloppy with higher lows in place which could be slightly bullish over the next few weeks.
Goldman Sachs Group Inc (NYSE:GS) is trading all over the map today. The stock remains extremely volatile ever since the SEC charged the company with fraud. Goldman Sachs will have intra-day support around the $137.25 level. The daily chart is also holding above the June 10th low which can be viewed as a small positive for the stock.
Bank of America Corp (NYSE:BAC) is the one major financial stock that is positive this morning. BAC is trading higher by 0.05 to $15.48. This stock will have intra-day chart support around the $15.30 area. The stock will also have intra-day resistance around the $15.70 level. As long as the daily chart price stays above the May 25th low it can trade higher. Should the daily chart price fail to hold that important level it could easily trade down to $14.00 which would be the next support level.
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