Intel update

Here is the back link to my prior Intel posts.  In short, I think the shares are in a bear market.  Wave 1 down completed in mid November 2012 with a bottom price of $19.20.  Since then the shares have bounced in an a-b-c retracement forming wave 2.  This peaked in June of this year at a peak price of about $26.  With wave 2 complete I think Intel is now working on a 3rd wave down.  Wave 1of3 bottomed around the 1st of Sept.  Since then we have seen a-b-c into a price level of $24.80 which was right around the 61.8% fib retracement of big 1 down.  With wave 2 complete I now expect a dramatic 3rd wave down.  If that lower red support line breaks down, and I give this choppy pattern better than a 75% chance of doing just that, Intel shares will be teenagers before the end of the year.