While I do not think the broad market needs bellwether semiconductor Intel to rally hard in order to sustain another leg higher, I do believe INTC needs to at least hold this current level. As you can see on the zoomed-out daily timeframe below, Intel is now back to a major, multi-quarter support level. Today’s attempt at stabilization is a decent start.
Should Intel miserably fail from current levels, it will certainly factor into whether I reconsider the case for being constructive on the market.
2 Responses to Intel’s Big Test
Intel is the tel
Thanks for the reminder to watch Intel. I forgot and had been watch all those smaller semis that have been crawling upward.
INTC is a big weight in SOX, and many tech ETFs.