Cruel move on INTC dropping just enough to trigger what I thought was a well-placed entry, just far enough below the wedge to help minimize the change of a whipsaw signal. I would take that same setup 9 times out of 10 in just about any market enviroment or trend. In hindsight, or maybe not complete hindsight as I mentioned in the following trading room thread late yesterday, that the odds for a short on any semiconductor stocks would increase if/when SOXX (semiconductor sector ETF) were to make an impulsive breakdown below this 60-minute rising wedge pattern: https://rightsideofthechart.com/members/mwright/activity/37475/#acomment-37480 (trading room link required Gold Level access to view).

At the time INTC broke down, SOXX was at the bottom of the wedge (i.e.- trendline support). As such, despite a relatively minor 3.1% quick loss, the one positive take-away from that trade would be not to take a top-weighted position of a sector with a fairly high-correlation among its components, such as the semiconductors, until the sector chart confirms that long or short entry. INTC will now be moved to the Completed Trades archives but is on watch for another potential short entry as the bearish rising wedge in both INTC as well as SOXX is still very much intact.