Two Ways: All Eyes on JPMorgan
So, one important area of focus will be the credit card business. JPM reported net charge offs at the end of last quarter to be 7.72% and these figures are expected to increase as unemployment creeps higher. Retail Financial Services will also be at issue because it contains the home lending portfolio. Last quarter JPM increased its provision for credit loss to $3.87 billion.
Consensus estimates call for the bank to earn about $0.04 per share on revenues of $25.8 billion.
From the Bull Pen: If you’re in the camp that these bank earnings can juice the S&P 500 above 950 resistance, then consider the SPY. A sell stop can be set below $92. 
From the Bear Cave: The financial ETF (XLF) was recently mentioned in the bull pen, but there’s significant resistance near $13.00. Bears can test the downside with a tight buy stop, if and when it reaches that level. Big gulps huh? Well.. see you later! -- Lloyd.
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Talk about blatant manipulation! Isn't it about time all this smoke and mirrors 'estimates' figures should stop and real comparisons with last years earnings taking instead? Real earnings, not fake mad up, tweaked, one time deductions that happen every quarter....
