The four "too big to fail" money center banks Bank of America (BAC - Get Report) , Citigroup (C - Get Report) , JP Morgan (JPM - Get Report) and Wells Fargo (WFC - Get Report) have had bull market gains since the election and set post-election highs as March began.

The FDIC Quarterly Banking Profile for the fourth quarter suggests that these stocks may have rallied too far, too fast. The Federal Deposit Insurance Corporation shows that progress of healing from the "Great Credit Crunch" stalled as 2016 ended.

Fourth-quarter FDIC data shows a decline in Quarterly Net Income to $43.7 billion, down from $45.6 billion in the third quarter. For all of 2016, net income rose by 7.7%, to $171.3 billion. This is important as the four big banks control 41.9% of the total assets in the banking system.

Here's a table that shows just how big these banks are:

   

Here's a scorecard for the four "too big to fail" banks.

   

Bank of America closed Thursday at $25.21, up 14.1% year to date and in bull market territory 50.9% above its post-election low of $16.71 set on Nov. 8. The stock set its post-election high of $25.80 on Thursday. The bank controls $1.70 trillion in assets, which is 10.1% of the total assets in the banking system. Bank of America is the only one of the four to increase assets in the fourth quarter.  

Citigroup closed Thursday at $60.63, up 2% year to date and in bull market territory 23.7% above its post-election low of $49.03 set on Nov. 8. The stock set its post-election high of $61.94 on March 1. The bank controls $1.35 trillion in assets, which is 8% of the total assets in the banking system.

JP Morgan closed Thursday at $92.14, up 6.8% year to date and in bull market territory 33.1% above its post-election low of $69.24 set on Nov. 8. The stock set its post-election high of $93.98 on March 1. The bank is the biggest of the big and controls $2.22 trillion in assets, which is 13.2% of the total assets in the banking system.

Wells Fargo closed Thursday at $58.71, up 6.5% year to date and in bull market territory 30.8% above its post-election low of $44.87 set on Nov. 8. The stock set its post-election high of $59.99 on March 1. The bank is the second-biggest bank with $1.76 trillion in assets, which is 10.1% of the total assets in the banking system.

Bank of America

 

Courtesy of MetaStock Xenith

The weekly chart for Bank of America is positive but overbought with the stock above its key weekly moving average of $23.57 and above its 200-week simple moving average of $16.15. The weekly momentum reading is projected to end the week at 88.89, well above the overbought threshold of 80.00.

Trading Strategy: Buy Bank of America on weakness $22.39, which is my semiannual value level. Sell strength to my monthly risky level of $26.29.

Citigroup

 

Courtesy of MetaStock Xenith

The weekly chart for Citigroup is positive with the stock above its key weekly moving average of $58.84 and above its 200-week simple moving average of $50.44. The weekly momentum reading is projected to rise to 86.83 this week up from 62.82 on Feb. 24.

Trading Strategy: Buy Citigroup on weakness to my quarterly value level of $47.75. Sell strength to my monthly risky level of $64.10.

JP Morgan

 

Courtesy of MetaStock Xenith

The weekly chart for JP Morgan is positive but overbought with the stock above its key weekly moving average of $88.00 and above its 200-week simple moving average of $62.27. The weekly momentum reading is projected to end the week at 89.95, well above the overbought threshold of 80.00.

Trading Strategy: Buy JP Morgan on weakness to my annual pivot of $84.24. Sell strength to my monthly risky level of $93.34, which was tested at this week's high.

Wells Fargo

 

Courtesy of MetaStock Xenith

The weekly chart for Wells Fargo is positive but overbought with the stock above its key weekly moving average of $56.87 and above its 200-week simple moving average of $50.10. The weekly momentum reading is projected to end the week at 83.71, above the overbought threshold of 80.00.

Trading Strategy: Buy Wells Fargo on weakness to $55.97 and $48.86, which are my annual pivot and my quarterly value level, respectively. Sell strength to my semiannual risky level of $68.53.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

Action Alerts PLUS, which Cramer manages as a charitable trust, is long C and WFC.