After three months in a row of gains already, long-term US Treasuries have picked up in August right where they left off in July.

Payroll employment rose by 114,000 and unemployment is only 4.3%. Wages are up 3.6% over the past 12 months. Those are really good numbers! Unfortunately, it’s often the second derivative that tells the real story.

This Elliott Wave analysis for Visa Inc. (V) examines both the daily and 1-hour charts to provide a comprehensive overview of the current market position and potential future movements.