NFTRH+; Intel & Broad Market

I am using Intel (INTC) as an example because it is an NFTRH+ item that has still not reached its target of 40+.  That target is in doubt with the weaker view on the broad markets, but the chart is a good example of what we are looking at in the markets.  Consider this a regular NFTRH update (sent to all subscribers).


I bought INTC back this morning simply for the prospect of a higher low bounce scenario in this stock, as well as the broad market.

The thing about critical parameters like the ‘decision points’ we are noting on several US stock indexes is that they don’t tend to go obediently.  This morning was a drop, potentially to put as many people off sides as possible, prior to what is thus far a potential bear trap.

This is exactly why I try to call for patience and waiting for daily and in some cases weekly closes below (or above) parameters before we can call them support or resistance.

INTC has a big fat gap that can be filled and the target – if today’s upside reversal holds up – would be a test of that gap below the SMA 50.

Alternatively, if markets are bull trapping and turn back down, I would personally go back to the idea of waiting for upside bounces to test the breakdowns before getting significantly short against the market.  INTC would likely provide a realized loss in that case.