Sunday, June 12, 2016

Credit card companies are about to join the downturn. [V] [free]

The backlink did have a large pullback near the modeled peak but the wave count since then suggests that it was off by 1 wave and that we just likely hit the peak of blue 5.  At this point I am modeling a move back down to the low to mid 50s as a starting point.  By this model, the selling should begin almost immediately.

On the news front, WalMart Canada, which is struggling during this down turn, failed to reach an agreement with Visa for use of their cards in its stores.  Thus, WalMart in this region has discontinued acceptance of Visa.  Soon we will see credit card companies infighting in ways never seen before.  Instead of just going after customers, they will soon be going after each other, running negative ad campaigns on the competition, etc.  This is how it looks when the organized crime simply runs out of easy money to collect.  The coming infighting is a given.

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