diff --git a/crates/intent/README.md b/crates/intent/README.md
index 8a95ecd..89180a1 100644
--- a/crates/intent/README.md
+++ b/crates/intent/README.md
@@ -28,13 +28,14 @@ standalone `intent review-fixtures` command uses the same function and retains
 ## Graph references
 
 `intent graph --json` keeps the existing `nodes` and `edges` arrays and adds one
-source-located `references` record per explicit `req:` trace, local Markdown
-link, normative A/T/R-style ID citation, and scoped decision or delta ordinal
+source-located `references` record per explicit `req:` trace, Markdown link,
+normative A/T/R-style ID citation, and scoped decision or delta ordinal
 citation. `syntax` distinguishes those four forms. Each record preserves the
-written target, reports `resolved`, `ambiguous`, or `dangling`, and lists every
-matching target location; link records also preserve their visible label and
-normalized repository-relative path, while citation records expose the
-normalized ID or ordinal and the scope used for resolution.
+written target, reports `resolved`, `ambiguous`, `dangling`, or `external`, and
+lists every matching target location. Link records also preserve their visible
+label; local links expose their normalized repository-relative path, while
+external links have no target location. Citation records expose the normalized
+ID or ordinal and the scope used for resolution.
 
 ## `check` exiting 0 does not mean it read anything
 
diff --git a/crates/intent/src/graph_references.rs b/crates/intent/src/graph_references.rs
index bd1b3b5..a66cf2d 100644
--- a/crates/intent/src/graph_references.rs
+++ b/crates/intent/src/graph_references.rs
@@ -488,7 +488,7 @@ fn markdown_links_in(document: &Document) -> Vec<MarkdownLink> {
             };
             let raw = line[target_start..paren_end].trim();
             let target = markdown_destination(raw);
-            if !target.is_empty() && !is_external_target(target) {
+            if !target.is_empty() {
                 links.push(MarkdownLink {
                     label: visible_label(&line[open + 1..close]),
                     written_target: target.to_string(),
@@ -539,6 +539,23 @@ fn resolve_markdown_link(
     link: &MarkdownLink,
     documents_by_path: &BTreeMap<PathBuf, &Document>,
 ) -> ResolvedLink {
+    if is_external_target(&link.written_target) {
+        return ResolvedLink {
+            reference: GraphReference {
+                syntax: "markdown_link",
+                source: document.location(link.range.clone()),
+                written_target: link.written_target.clone(),
+                resolution: "external",
+                target_locations: Vec::new(),
+                label: Some(link.label.clone()),
+                resolved_target: None,
+                normalized_target: None,
+                scope: None,
+            },
+            target_path: None,
+        };
+    }
+
     let decoded = percent_decode_minimal(&link.written_target);
     let (file_part, anchor) = split_anchor(&decoded);
     let lexical_target = if file_part.is_empty() {
diff --git a/crates/intent/tests/intent_check.rs b/crates/intent/tests/intent_check.rs
index e70a4fc..1a9b198 100644
--- a/crates/intent/tests/intent_check.rs
+++ b/crates/intent/tests/intent_check.rs
@@ -265,7 +265,7 @@ fn graph_json_exposes_files_ids_links_and_wikilinks() {
 }
 
 #[test]
-fn graph_json_records_each_local_markdown_link_with_resolution_and_locations() {
+fn graph_json_records_local_and_external_markdown_links() {
     let h = Harness::new();
     fs::write(
         h.repo.join("context/intent/requirements.md"),
@@ -274,7 +274,7 @@ fn graph_json_records_each_local_markdown_link_with_resolution_and_locations() {
     .expect("requirements");
     fs::write(
         h.repo.join("context/intent/spec.md"),
-        "# Spec\n\nSee π [the requirement](./requirements.md#local-target), [missing](./missing.md), and [external](https://example.com/docs).\n",
+        "# Spec\n\nSee π [the requirement](./requirements.md#local-target), [missing](./missing.md), and [Decision 0042](https://github.com/compoundingtech/intent/commit/9561206).\n",
     )
     .expect("spec");
 
@@ -292,11 +292,7 @@ fn graph_json_records_each_local_markdown_link_with_resolution_and_locations() {
         .iter()
         .filter(|reference| reference["syntax"] == "markdown_link")
         .collect::<Vec<_>>();
-    assert_eq!(
-        links.len(),
-        2,
-        "external URLs are not local link references"
-    );
+    assert_eq!(links.len(), 3);
 
     let resolved = links
         .iter()
@@ -324,6 +320,18 @@ fn graph_json_records_each_local_markdown_link_with_resolution_and_locations() {
     assert_eq!(dangling["resolution"], "dangling");
     assert_eq!(dangling["resolved_target"], "context/intent/missing.md");
     assert!(dangling["target_locations"].as_array().unwrap().is_empty());
+
+    let external = links
+        .iter()
+        .find(|reference| {
+            reference["written_target"]
+                == "https://github.com/compoundingtech/intent/commit/9561206"
+        })
+        .unwrap();
+    assert_eq!(external["label"], "Decision 0042");
+    assert_eq!(external["resolution"], "external");
+    assert!(external["target_locations"].as_array().unwrap().is_empty());
+    assert!(external.get("resolved_target").is_none());
 }
 
 #[test]