Today I posted an update on SMH, ETF investing in semiconductors sectors.
The count I posted suggests that the sector is topping.
In my previous update on INTC I made a bearish case. Since then INTC did not manage to make a higher high.
On 240 min chart shown below you can see that Intel has arrived to the Red Target box for a corrective subwave ( b ) up.
Note it made a lower high while SMH managed to make a higher high.
That tells us that INTC is a weak play in semiconductors field. If the sector turns down that stock may drop faster then the whole sector.
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