INTC elliott wave theoryIntel CorporationNASDAQ:INTCpolarity– Wave 4 Correction in Progress. The 0.50 Fib retracement is a very common landing spot for Wave 4. Normally in a strong market, I would like to see a bounce around the 0.382 Fib (~$101). If price breaks below the 0.50 Fib (~$88.73), I would pause new buys and watch for support around the 0.618 Fib (~$76). A move halfway between the two levels would be a natural warning zone. Given the current seasonality (typically choppy summer period), we may see range-bound action around the 0.618 level before a potential Thanksgiving Rally later in the year. With rising cost of living and ongoing geopolitical tensions, I remain very cautious and would not trade this setup based on technicals alone. Risk management and fundamental developments are critical here. Long term wise, I am still bullish, that is until we started to fail below 0.786...... Short Term wish, I am still bear-ish for the remaining months of the summer.