Midday Wave #94: Midday Wave: Breadth Flush Meets Thin Defensive Leadership – Monday 8/24/2026

Episode summary

Morning bullish breadth collapsed hard by midday, with the 20SMA reading dropping fifteen points and sentiment flipping from bullish to bearish. Leadership rotated into defensive sectors like Health Care and medical names, but the move lacks volume conviction, prompting a cautious, risk-controlled approach into the close.