Friday, July 17, 2015

[INTC] update

In the backlink I was focused on the H+S formation that is clearly contemplating a breakdown of the neckline.  While the $COMPX was up today based on GOOGPhoria, Intel was down 0.4%.  NOT GOOD, Intel longs, NOT GOOD at all for Intel to be moving against the flow of the herd.  It tells me that big players are selling into strength strongly enough to counteract the TechPhoria.  That is so not good.  Today added greatly to my long standing view that the Intel H+S will in fact confirm, will in fact break down hard.



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