[INTC] update

At the backlink I chose a conservative decline model shown below.


In actuality, the herd chose a more aggressive decline while keeping the wave count reasonably intact.  As you can see, I am modeling a near term bottom to be forming for Intel into the end of May.  The bottom of blue 5 below should be the end of a large wave 1 down which should lead to a wave 2 bounce in one of the ways shown.  The red path would be a bounce to the prior 4th and the two green paths are the 38.2 and 50 fibs respectively.  But after that I expect the bottom to fall out as shown.  That next wave down should be a 3rd and thus very damaging to confidence.