Financial Stocks Finding Bids JPM Nears Multi Year Highs

JP Morgan Co JPM Stock Chart 9.12.19

JP Morgan Co JPM Stock Chart 9.12.19

Financial stocks are "catching a bid."

JPM, GS and C have traded into solid momentum and looking to confirm bullish order flow.

JPM looks to have the greatest potential as it nears multi year highs. I am game planning for it to crack the $117 level and then wait for a pause.

I know it's a little conservative but this is major resistance. I love the trade through that level.

One other idea to note today is ROKU. After two vicious days of profit-taking, we have a pause. Might need one more day to consolidate but keep it on your radar.

Have a great day.


‘Once in a decade’ trade is upon us

J.P. Morgan’s chief quant says that the big rotation into value names should continue, and that stocks should move higher into October, and beyond, especially if the U.S.-Chinese trade talks go well.

Apple worth $1 trillion for first time in 2019

Some analysts worry about the margin impact of Apple TV+ bundle, but market cap closes at $1.01 trillion.

Apple Inc. reclaimed its status as a trillion-dollar company Wednesday, hitting that level for the first time since last November on the day after it showed off its next iPhones.

How the Trade War Is Impacting Amazon

Along its route to becoming the world's dominant e-commerce company, Inc. (AMZN) has laid waste to the competition in one industry after another, building a market capitalization that now exceeds $900 billion in the process.

Nonetheless, the escalating trade war between the U.S. and China threatens to put a dent in its rapid growth rate.

Pete Renzulli

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