INTC update 12/8

INTC: great chart, counts beautifully well from the small degree to the large degree waves (From minute to major!). Today there was a lot and lot of call buying coming in. This tells us the stock is about ready to break higher. In addition, it also fits with our count: intermediate iii of major 5 is about to start and the fact that price is now above the 20, 50, 100, 150 and 200d sma means things are starting to look good for INTC. We may see some backing and filling before lift off (to shake out the weak hands), as the current chart setup looks similar to late-June, early-July; and we expect it to march higher soon. We see it target $38.5 for now.