Brian Shannon on $INTC (Oct 31, 2026)

we had Intel's earnings results, which were arguably the main catalyst for the market sell-off on Friday. So, we look at those and say, you know, what's the most likely scenario for a stock like Intel?

It wasn't likely to go that low. My thinking was, I'd like to see Intel drop, break the year-to-date level and the 200-day moving average, go below the summer low, and then start to rise. That was my preferred scenario.

But guess what? My preferred scenario—the market doesn't care about my preferred scenario—but the thing is, I'm always thinking ahead and trying to explain things in advance. This isn't just a summary of what happened last week.

It's looking ahead and saying, 'Here's what I'd like to see happen.'" If that happens, I'll start looking for a bounce up here towards this level. It doesn't happen. So, we're back to square one.

You can't hold onto something, you know, that you had at the beginning of the week and it's been invalidated. We broke the pivot level since what? I think so. I'm not sure, but I think that's when the US government decided to take a position.

So, on average, the average participant has been in a losing position since the government bought in . That doesn't mean that people down here are losing, of course, but I'm talking about the average.

So, we look and say, "Okay, what's the next likely level of interest?" "We look at the weekly chart and say, 'Okay, what was the lowest level that was the most significant?' 'Well, almost at that exact spot.'"

We have gone below that level. So, we will return to this level. Perhaps he will return there. I don't know . The accused is guilty until proven innocent. I am not looking to be a buyer of Intel shares.

Let the institutions do the hard work of pumping hundreds of millions of dollars into finding and creating support.

Intel, as I said, is a real disaster there.