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While Intel (Nasdaq: INTC)'s earnings are directly ahead this afternoon, let's keep in mind that tomorrow well before the opening bell, JP Morgan (NYSE: JPM) will release its Q4 results, which will impact Bank of America (NYSE: BAC). Here is the BIG picture of BAC ahead of tomorrow morning's pre-open release of JPM earnings. My near and intermediate technical and momentum work argue that has unfinished business on the upside into the 18.00 next target zone, the ignition for which could be triggered by the a positive reaction to JPM's Q4 results. Initial resistance in BAC resides at 17.10/20, which if hurdled and sustained, should attract new buying interest that propels prices towards 18.00. MJP 1/14/10 12:30 PM ET (16.72/73)
Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!
