Institutional BIG MONEY took advantage of the overnight bounce in China, to LIQUIDATE large amounts of stock from US banks and the important financial stocks in the XLF on 10/22/18, putting price right down to important support, after a loss of 2 % today.
The significance of what happens next this week in the banks, cannot be overstated.
A break of support here,in XLF right now, would have serious implications for the rest of the market.