Credit Card Debt:
Consumers have been spending feverishly on credit cards in recent data, and many wonder if that’s a sign they feel confident, or worrisome as concern grows that they may be tapped out. I think the latter, but again I just analyze PRICE action and let others wonder about the “why”. MA is now 22% off most recent 52-week highs from the very round 400 number and it was never able to show any follow-through from the solid week ending 1/28 gain of 8% (in fact the very next week was a bearish shooting star candle). Incredibly peers like PYPL which were supposed to disrupt traditional credit card names have fared much worse. PayPal is lower by almost 80% from its peak last July. SQ has behaved even worse than PYPL, and UPST is lower by more than 90%, not a typo, from its annual peak even after Friday’s move higher of 9.5%. MA may offer some decent risk/reward here.