We noted that the market looked pessimistic ahead of Citigroup's earnings report this Wednesday (1/18). Alas, the earnings report was disappointing and the market extended that slide after completing a price top. Citigroup 4H Chart 1/20(click to enlarge)Bearish Outlook Towards 54:- Looking at the 4H chart, we can see a clear price top. - However, we do have a bullish market since 2016, and the bearish correction we are seeing now might still be within the context of the uptrend.- If we, we should look at price action as C falls towards 54, where there could be a rising trendline.- Until then, we might want to avoid Citigroup.- If there is a rally, monitor for resistance in the 58-59 area, which involves the neckline of the broken price top.Here is a summary of the Q4 earnings report from seeking alpha:Citigroup: What a DisappointmentTop line growth was disappointing. Net interest income actually declined, despite rising rates.Citi's outlook was modest, given the positive rate environment.Its energy loan portfolio could create volatility if oil prices fall.Avoid Citi.