NEW YORK (TheStreet) -- JPMorgan Chase (JPM) and Wells Fargo (WFC) are the momentum stocks among the four "too big to fail" money center banks trading above their pre-banking crisis highs, while Bank of America (BAC) and Citigroup (C) are trading well below their 200-week simple moving averages.
Today we will look at the daily charts for these banking giants and provide key technical levels at which to buy on weakness and to sell on strength. Before we do, let's look at fresh data from the FDIC Quarterly Banking Profile for the first quarter of 2015, released last week.
According to the Federal Deposit Insurance Corporation, the banking system continues to heal from the adverse effects of the 2008 credit crunch. From top to bottom in size, 63% of the 6,419 FDIC-insured financial institution reported year-over-year growth in quarterly earnings and only 5.6% were unprofitable.
Stronger loan growth, improved noninterest income, increased trading revenue, and income from securitization and servicing of 1 to 4 family residential real estate loans contributed to operating revenue of $168.4 billion in the first quarter up 2.6% year over year. A drag on income was net income margin which contracted to 3.02% from 3.16% year over year.
Here's an asset scorecard for the banking giants. In total, the big four control 43.1% of the $15.78 trillion assets in the banking system, down from 43.3% in the fourth quarter of 2014 and 43.9% a year ago.