Midday Market

Midday Wave #99: Breadth Breaks Down: The ABC Tape – Monday 8/31/2026

Episode 995:16

0:005:16

Episode summary

Breadth collapses across both the 40SMA and 20SMA timeframes as bearish sentiment gets confirmed on multiple measures. The hosts break down why ASST is the only volume-backed mover worth trusting, while flagging VEEV, ALVO, and BRCB as unconfirmed moves, before laying out a defense-first game plan for the rest of the session.

Chapter by chapter

Breadth Craters Since Morning

40SMA and 20SMA participation drop sharply, with the 20SMA nearing washout territory at 9%.

Sentiment Confirms Bearish Read

Bearish sentiment on both the 4% and 40SMA measures, with weakness broad-based rather than sector-specific.

ASST: The One Volume-Confirmed Mover

ASST stands out as the only top-ten signal pairing a real price move with real relative volume.

VEEV, ALVO, BRCB: Moves Without Volume

Several stocks post solid percentage gains but show weak RVOL, undercutting conviction behind the moves.

Large Caps Fade, CLGN's Wild Spike

MCK and WAT slip as weakness spreads upmarket, while microcap CLGN spikes 23% on acquisition news and extreme RVOL.

Catalyst Names Mixed to Negative

DE, TTWO, and SRE catalyst flows tilt mixed-to-negative, and institutional momentum names stay scattered.

ABC Tape: Defense First

The plan shifts to Always Be in Control — sizing down and only trusting RVOL-confirmed continuation.

Levels to Watch, Bulls vs. Bears

ASST's $23.56 hold and VEEV's need for volume confirmation, framed against a 43-94 bull/bear split.

Closing Take: Stay in Control

Final wrap emphasizing caution, sizing down, and waiting for volume proof into the close.

Key points

  • Breadth collapsed sharply on both the 40SMA (down 8.3 pts) and 20SMA (down 10 pts, now near washout at 9%), confirmed by bearish sentiment readings on multiple measures.
  • ASST is the standout signal — an 8.4% move on 1.3 RVOL — making it the primary continuation test to watch at $23.56.
  • Several apparent movers (VEEV, ALVO, BRCB) lack real volume support and should be treated as unconfirmed until proven otherwise.
  • Weakness is spreading upmarket into large caps like MCK and WAT, while catalyst names (DE, TTWO, SRE) are mixed-to-negative.
  • With bears outnumbering bulls more than 2-to-1, the session calls for a defense-first, size-down approach — an 'Always Be in Control' tape.

Ticker charts

ASST

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open ASST in WaveFinder.

Daily bars through Aug 31, 2026.

VEEV

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open VEEV in WaveFinder.

Daily bars through Aug 31, 2026.

ALVO

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open ALVO in WaveFinder.

Daily bars through Aug 31, 2026.

BRCB

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open BRCB in WaveFinder.

Daily bars through Aug 31, 2026.

MCK

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open MCK in WaveFinder.

Daily bars through Aug 31, 2026.

WAT

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open WAT in WaveFinder.

Daily bars through Aug 31, 2026.

CLGN

Chart unavailable

No daily price history for CLGN through Aug 31, 2026.

DE

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open DE in WaveFinder.

Daily bars through Aug 31, 2026.

TTWO

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open TTWO in WaveFinder.

Daily bars through Aug 31, 2026.

SRE

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SRE in WaveFinder.

Daily bars through Aug 31, 2026.

CRWL

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open CRWL in WaveFinder.

Daily bars through Aug 31, 2026.

IRE

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open IRE in WaveFinder.

Daily bars through Aug 31, 2026.

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