Today, we had a mixed bag of reactions to a slew of bank earnings. Wells Fargo for example reported strong earnings, but still fell into a bearish continuation breakdown. Here's a summary from cnbc:Earnings: $1.30 per share vs. $1.15 cents per share forecast by Refinitiv.Revenue: $21.58 billion vs. $20.93 billion forecast by Refinitiv. From CNBCWFC Daily Chart(click to enlarge)Bearish Continuation:- On the daily chart, we can see that price has been bearish entering 2019. - Then, after a bullish rebound that fizzled in March, the bearish trend returned. After all, price remained under the 200-day simple moving average and made a lower high. Price also held under a falling trendline resistance.- In more recent price action, price rallied from about $44.25 to $48 and then retreated.- This week, price action accelerated downwards especially during the 7/16 session following the earnings report.- I think price will retest the 2018 low around $43.40, which was a key support in 2016 as well. A break down first opens up the $40 level.- A break below $40 should open up the $34.50 area, which was a previous consolidation resistance. - For now, I would limit the downside to the $28-$30 area, which is still a far ways to go down from the current level just above $45. WFC Weekly Chart(click to enlarge)