It's a classic.

Classic buying panic after hours on the INTC earnings announcement. The price action told the story, and in general, when the markets are strong ahead of an awaited announcement, the tendency is to overshoot to the upside and then reverse.
INTC will be the excuse for those on the sidelines to buy, the sheep will no longer wait for the pullback and will rush head on.....over the cliff.
A false breakout to mark the top of this move up, based on INTC blowout earnings, you can not script it any better. Classic Wall Street.