Financial stocks strong this week

Financial stocks rallied this week from their lows.

Bank of America (BAC) was up about 8%.
US Bancorp (USB) was up about 9%.
Citigroup (C) and Wachovia (WB) were each up about 10%.
and Wells Fargo was up about 15% for the week.

When the financial stocks bottom, we will most likely have hit our lows for the year.

Price action in these stocks over the next month will dictate whether we have reached a short-term or long-term bottom.