This is by far my favorite pattern. The 1.618 extension on X-B with the RSI BAMM. It has a very high probability of playing out. My first target is major trendline support. If it fails to reverse through the 0.5 fib then further downside will proceed. I feel the same way about V as I do with MA. They have been in insane uptrends since 2010 I think it is logical to...
The uptrend is strong, and it seems it has more energy than many bears thought from outset now. There is a good chance that price will retrace back to previous resistance/supply which now acts support. Short from $180 and have target price $176 area. If you are not short or want to short now, make your stop loss at recent swing high at $180.84 with target price...
Details to follow. MA is down on earnings. Visa looks toppy. Full of divergences internally on this rally back to the high. It is under the previous few day's lows and above today's low, so it looks like a short to me.
Sorry to rush out a chart without listing everything graphically.
All the best.
Tim 3:58PM EST Wednesday
