INTC - broadly weak

Whilst the main market saw a day of moderate chop, Intel (INTC) also saw some moderate swings, jumping at the open (intra high $29.45), but settling -0.3% @ $28.91. The broader trend remains bearish, with the H/S target remaining $22.50.


INTC, daily

INTC, weekly

Summary

Today was another instance where INTC saw some upside.. but then the sellers appeared.

Broadly.. INTC looks a given for the 26/25s by early Oct'... but if the main market gets real upset (as in sp' <2000).. then INTC will be unable to hold the key $25 threshold... with capitulation in the 23/21 zone.

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*I went short INTC earlier today from the $28.90s... seeking an initial exit in the 28.25/27.75 zone, but will consider being broadly short into early October.