JP Morgan Chase (JPM) sees 2nd quarter revenue to drop 20% from the same time last year. JPM is down 1.15% during after hour trading. Looking at charts of major banks and they are not looking good. Bank of America (BAC), JP Morgan Chase (JPM), Citibank (C) and Goldman Sachs (GS) are all below their 50,100 and 200 day moving averages and trends are all down. The banking sectors will likely be drags for the stock market next week.
This blog follows the US stock market daily. Free market news, market comments, stock charts, stock and options buy/sell suggestions are provided throughout the day.
Friday, May 2, 2014
Banks Will Be Drags For the Market Next Week

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