[INTC] update

At the backlink I was expecting acceleration downward into wave 3 that would eventually break the H+S neckline during 3 of 3.  That post was on Thurs.  Friday Intel shares edged down 50 more cents and came within a hair of creating a lower low. 

I suspect that the first June low was 1 of 3.  Then the little rally was 2 of 3.  Now I model that we are in 3 of 3 down, perhaps about ready to gap down into 3 of 1 of 3.   If this model is correct, it will likely play out much faster than shown.  3 of 3 generally do not fool around.  They get 'er done.  

The slightly downsloping green line is the H+S neckline.  It will likely take a 3rd of 3rd to break it down but once it does, Intel target price becomes $21.