In actuality, the herd chose a more aggressive decline while keeping the wave count reasonably intact. As you can see, I am modeling a near term bottom to be forming for Intel into the end of May. The bottom of blue 5 below should be the end of a large wave 1 down which should lead to a wave 2 bounce in one of the ways shown. The red path would be a bounce to the prior 4th and the two green paths are the 38.2 and 50 fibs respectively. But after that I expect the bottom to fall out as shown. That next wave down should be a 3rd and thus very damaging to confidence.
No comments:
Post a Comment