Negative Intel

"Always with the negative waves, Moriarity."
--Oddball (Kelly's Heroes)

Classic high-volume breakdown in Intel (INTC) following weak report and earnings guide down. Stock has a cushion of technical support between 50 and 51.5 that appeared to buoy the stock on Fri.

Thus far market has been treating Intel's negative news as company-specific. Should that negativity spread, then the multi-month sector run-up in chip names will be at risk.

no position