Banks' weak response to earnings despite low expectations warrants caution into the rest of Q3 reporting. JPMorgan, Wells Fargo, Citigroup and Goldman Sachs all fell after mixed results, while the bank ETF also declined. x.com 

Citigroup's rally looks overdone. It is not a super-premium franchise, yet the stock has tripled since 2023. CEO Jane Fraser's plan is working and the shares were far cheaper than other money-center banks for the past decade, as @RAMCOCAPITAL notes, but the market seems to be making the wrong call on whether Citi is a credit card issuer or an investment bank and broker, though that view could be mistaken. x.com  x.com 

Citigroup's Q1 shows the trading side of bank income statements is running hot, which bears had not priced in. Equities trading revenue was $2.08B against a $1.73B estimate, and Citi is not historically the strongest desk, which bodes well for Goldman Sachs and Morgan Stanley. Every tariff scare, Fed headline and geopolitical shock fed trading flow. Credit quality and loan loss reserves remain real concerns, but banks beaten up on macro fear are running stronger underneath. x.com  x.com 

JPMorgan's miss on both revenue and earnings strengthens the case for avoiding bank and financial stocks. The earlier bank-index chart rollover had suggested possible profit disappointment, but the observed JPMorgan share weakness is not a near-term price forecast. x.com  x.com  x.com 

Goldman Sachs looks set for a major breakout and could catch up to Citigroup after banks broadly reported strong earnings. Goldman and JPMorgan are both working on weekly breakouts; Goldman's daily chart is gappy, so entries near the daily 9 EMA look better. x.com 

Citigroup stands out in a lagging bank sector as the only major bank in an uptrend, the only one within 5% of its 52-week high, and the one with the lowest PEG ratio among the majors. An inverse head-and-shoulders continuation pattern is in play with a $165 target. x.com 

JPMorgan is buyable on pullbacks to its daily 9-period moving average ahead of an earnings run-up in early July, with financials such as Goldman Sachs, Citigroup, Interactive Brokers and Bank of America doing great. x.com 

Bank of America's Q1 shows a bank making money from market chaos, undercutting the recession pricing on large-cap financials. Revenue of $30.27 billion beat estimates by $1.64 billion, net interest income of $15.75 billion topped the $15.37 billion estimate, and equities trading of $2.83 billion beat $2.51 billion as the bank captured volatility. FICC trading missed at $3.50 billion versus $3.78 billion, the one soft spot. x.com  x.com 

Bank stocks look buyable if systematic selling is reacting to a flatter yield curve: the front end that drives earnings has barely moved. JPMorgan and Citi card spending rose 10% and 13%, and Citi and Wells Fargo reported lower credit losses. Wells expects steady margins and improving interest income as loans grow and old fixed-rate assets roll into higher yields. Funds crowded into banks before results, limiting near-term buyers. x.com