[INTC] scary chart.

In the backlink I showed a model which suggested good odds of Intel falling into a H+S breakdown.  Today's action was scary as you can see from the chart below.  It plummeted down to $30 at the open and then someone bought it back up in a panic.  Interestingly, this happened on only 11mn shares traded today which is below average.  That kind of action tells me we are looking at an illiquid market.  Someone tried to get big on the ask side and the bottom fell out.  There simply were no buyers.  Things might look normal to most people but this is not normal looking to me.  This is a scary market and I believe that I will finally get my long awaited 500 point DOWn day and in fact it will likely significantly exceed that number.

The red line I drew by mouse below was not meant to suggest that the next wave down could take 2 week.  More like 2 hours.  3rd waves move quick and they include gaps.  I would not be surprised to see INTC shares gap below the neckline.