[INTC] update

In the backlink I was looking for a bottom in the $31.40 range before reversing upward in a small corrective rally.  Here is the chart from that post:



Here is a close up of the modeled turn with a peak just over $31.80:



Below is the current zoomed in snapshot showing good correlation with the model.  Note that this has not hit the 38.2 fib yet but it has hit the level of the prior 4th.  If Intel turns back down tomorrow and hits a lower low then the odds of a melt down in progress go up rapidly.  If Intel breaks the neckline of that H+S, and it continues to be my primary model that this will occur, then I think it will serve as fair warning to the entire stock market that this bull market (which has been in place since Bernanke began manipulating the economy to an unprecedented degree in 2009) is over.

I just don't see how Intel falls and the likes of Dominos and other pizza joints get to keep world record PEs and P/Ss.  It just seems extremely unlikely.