In the chart,you'll notice that financials as a whole did not take as big a hit as the reg market. This is an impressive sign. In fact, if you will review the chart , it will reveal who the strongest banks are.
When you see financials outperform a market that has falling prices, this is a great sign. It is indicative of an Izzy Bottom.
The market traded lower than the Izzy Bottom in after hours. Not a good sign. If we don't see any tremendously good news over the weekend - I can pretty much guarantee that the Izzy Bottom won't hold next week.
Bank of America down 7% is not a normal day and neither is it in the realms of: "financials as a whole did not take as big a hit".
One thing worth noting.==We are not in a bear market right now. We have a a market which has been trending higher that has a little sideshow happening right now. We'll spring right back.