INTU update 08/30

INTU: It has been a while since I last updated on this ticker, but it is actually still on track and ready to complete intermediate-iii of major-3 (can also be major-3 of Primary-I, or primary III of Cycle-1; all depends on what degree we think it is, but what matters is what price will do next and in all three cases it will drop for a 4th wave.) and iv of -3 should bring price back to $175-$145. Its a bit of wide spread, but since 4th wave typically retrace between 23.6 to 38.2% of the prior 3rd wave, it’s all we can forecast for now. Bottom-line: current upside is more limited (few $$$s), compared to the downside which is likely substantial (50s of $$$s).

INTU monthly