The chart above is the 60-day, 2h chart for the SPX. You can see a pretty clear 5-wave pattern that is near completion (as MACD divergence is confirming). Wave5=Wave1 around 1300, and and drop below 1314 would complete Wave-v of Wave5. I think 1300-1310 should prove to be good short term support.
The chart above is the 20 year chart for C. After having completed a 5-wave bullish cycle which ended in 2000, it has since been correcting in a Flat 3-wave pattern. This pattern is what attracted me to C instead of other financial stocks (well, it also pays 6%+ dividend, which is nice, and being one of the biggest banks, it's unlikely to perish).
Why would I want to buy a financial stock? Well, the immense bearishness and media attention means that these stocks are being incredibly scrutinized. They are probably being priced for worst case scenarios, which should lead to a strong pop if the market turns up for several days/weeks.
My plan is to buy C when the SPX enters the 1300-1310 range. I will have a stop at $13 (which is below Wave4 and the 78.6% fib level on the Monthly chart). If, and when, C bottoms in the next few days, I will move up the stop to below that low point. Then, if C has a 5-wave rally, I will hold longer term. Otherwise, if there is a shallow 3-wave correction, I will sell and look to buy later on (perhaps a few weeks/months later).