Intel still on target with model

In this post I provided this EW short term model for Intel shares:

 As you can see from the current chart below, the expected bounce is in progress.  The norm for this movement would be a bounce to the 38.2% or the 50% fib.  Chances that the next wave down will be a 3rd wave diminish somewhat if the bounce is too high here IMO.  For example, a 61.8 retracement can still be a likely 2nd wave but beyond that the odds change rapidly that the modeled wave count is wrong and that the wave is morphing into something else.

For now I'll stick with my original model as shown below.  Again, I do not see Intel hitting the 3rd wave bricks alone.  The con men know that the picking are getting thin as well.  Note that the largest company swap out of the past decade occurred this week for the DJIA (the Dow 30).  Of course there was very little news coverage of this event.  Nothing to see here, move on folks...