Since becoming public at the bottom of the financial crisis, VISA had a pretty good run gaining more than 500%. But it looks tired and ready to head south. Under the Elliot Wave Principle one can make a case we are wedging higher in a Diagonal triangle, an overlapping structure that should end with a thrust above the upper trendline with heavy volume. Once it comes back into the wedge that would pretty much confirm the bears are running the show.
We are not there yet but it is a nice pattern to keep your eye on.
We are not there yet but it is a nice pattern to keep your eye on.