Short Term Trading Member Forum

[techcharter]

V is for Visa, E is for E-wave

Visa is trading lower after disappointing earnings were announced after today's market close.

The long term E-wave count shows a motive e-wave from early 2009 to mid 2010 (Wave 5). Followed by a larger degree zigzag correction (WAVE 4). Since September 2010 Visa has advanced in a choppy fashion (WAVE 5). This is most likely an ending diagonal that is truncating. wave 5 of the ending diagonal is also an ending diagonal. All of this signals a dramatic crash to the $65 are within 6 months.


http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=v&time=13&startdate=1%2F4%2F1999&enddate=10%2F26%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9&x=30&y=14