This is technically, turnaround Tuesday.
And yet, I struggled to find something that is truly turning around.
Plus, I found it difficult to decide on whether to focus on what has turned down versus higher.
The overall market indices and sectors did not turn down enough to warrant a declaration. And, we have the Fed meeting on tap.
Then I thought about it some more.
What have I been saying in the media:
Buy hard assets (see our article about sugar) and buy stocks that are breaking out of a base.
The risk/reward has worked far better than buying stocks that are free falling hoping for a bottom.
That is why I turn to Intel.inc.
The best news, it is hardly too late to have a look at the stock.
Intel has a good solid base going back to October/November 2024.
On the daily chart, INTC is in an accumulation phase.
Momentum and leadership are strong.
On the weekly chart, INTC has more work to do.
For starters, it must close above the 50-weekl moving average it is now sitting on.
Secondly, it must close over the highest weekly close going back to November or over 26.25.
Then, INTC has the potential to see 32 next, then 40.00
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
