Lending Club $LC was on a bullish recovery along with the rest of the market since December. Price stalled briefly ahead of earnings release. Then after seeing the Q4 earnings report, the market sold off LC sharply. Here's a summary of the earnings report from MarketWatch:LendingClub said it lost $13.5 million, or 3 cents a share, in the quarter, compared with a loss of $92 million, or 22 cents a share, in the fourth quarter of 2017. Adjusted for one-time items, LendingClub lost $4.1 million, or 1 cent a share, in the period, compared with an adjusted loss of 3 cents a share a year ago. Revenue rose to $181.5 million, compared with $156.4 million a year ago. Analysts were looking for an adjusted profit of 2 cents a share on sales of $182.1 million.From LendingClub stock falls after company misses Q4 expectations (MarketWatch.com)Let's take a look at the chart.LC Daily Chart(click to enlarge)Bearish Structure Intact:- The market has been bearish on LC, but we did get a rebound last May and recently since December. - However, note that price was able to make a lower low than May, and the current high around $3.60 is below the previous one in July, around $4.55. - Also, after today's dip, price remained below the 200-day simple moving average (SMA), showing us the market has bearish bias on LC.- Furthermore, the trendline that has held up the rally since December is cracking. We are seeing some initial buying from this trendline and the February support pivot around $3.20. However, if price can close below $3.20 in February, we should see further downside towards the $2.50-$2.60 lows.- $3.00 could be a last line of defense for the bulls. But i don't have much confidence in it. - LC is a name that has been bleeding for a while. The bulk of the bearish market was in 2015 into mid-2016. Since then, price has been bearish-neutral as we can see on the weekly chart below.The Bullish Scenario:- As noted above, the market is now bearish-neutral. A break below $2.50 would obviously reflect the prevailing bearish trend.- However, if price can hold above $2.50 and push above $4.75, I think we might have a price bottom. But this is a tough scenario to bet on at this time, unless price is closer to $2.50. - I think we should probably stay out of LC. Any consideration to bet on a price bottom should probably wait until price is closer to the support ($2.50-$2.60). - Now if price starts to anchor above $3.00, we can also start to reassess the market as being neutral-bullish. But for now, we still should respect the prevailing bearish market. LC Weekly Chart(click to enlarge)