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Visa and Mastercard Struggle In Bullish Tape

Visa Inc.(NYSE:V) and Mastercard Inc.(NYSE:MA) are two leading stocks that have not participated in the recent stock market rally from August 25th. When leading stocks decline in a strong tape this is called weak relative strength and often signal further declines to come. Today the Dow Jones Industrial Average is trading higher by nearly 100.00 points, meanwhile, Visa and Mastercard are trading at new lows for 2010.

Visa Inc. will have short term intra-day support around the $65.00 area and more around the $63.00 level. Mastercard Inc. will have intra-day support around the $189.00 area and more at the $187.50 level. Please remember that these stocks are very weak and could decline further should the stock market indexes pullback or sell off.