Bank of America: fresh buy signal, but the 57-58 area wall doesn't crumble easily

Bank of America opens week 1 of a buy signal with the financial sector performing well: the XLF reference ETF is up 4.83% over the past month. The signal carries weak conviction though — signal strength at 35 out of 100 — and reduced sizing: the stock ranks 118th among 141 open US longs. The confirmation week closed bullish: the model suggests keeping the position unchanged.