[INTC] update

Model from the backlink is below:



The chart is making progress toward the level of the prior 4th (labeled green 4) in the model above.  This is why I'm hanging onto my INTC puts.  My current wave model suggests that they could appreciate dramatically into 2nd half Sept and all of October.  I continue to count big green 2 below as an expanded flat, 3-3-5.  These are among the most tricky, most volatile of patterns which is why they often occur during wave 2.  The herd is still not sure of the bearish direction yet and in fact since we do not yet have 5 big waves down on the DJIA/S+P, the motive wave is not yet confirmed.  But I do think it is coming and that it will lead to lower lows than the flash crash low of late August.  All we need is some bad earnings, bad guidance or bad economic news for the markets to latch onto.  Most of my models indicate it is likely coming.