Friday, April 10, 2015

[INTC] chart signals trouble ahead for the markets.

Here is the Intel (INTC) backlink.  Below is the prior snapshot.

Below is the current snapshot which shows continued progress is being made along the current and long standing model.  From that 2nd wave peak we now see 5 clear waves down formed and then three waves (so far) that appear quite corrective in nature, not impulsive.  The chart is also up against the top rail again, a perfect place to encounter big sellers again.

This is another reason why I like my current bearish model of the DJIA: Intel seems to be poised for a drop into a 3rd of 1 of 3 and that is likely to begin raising eyebrows across the investing, errr, gambling spectrum.  Intel IS retail tech and when retail tech goes down, can AAPL, MSFT and other major retail tech players be far behind?

The fat lady has not sung on this yet but you will hear her warming up in the green room if this chart falls rapidly below blue 1 in the next trading week.

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