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Index prices are dark, but breadth data reveals a sharp bearish regime shift as 20SMA breadth collapses from 58% to 24%. Amid the risk-off tape, energy names PBR and USO plus a handful of confirmed leaders like APP, QCOM, and PAYP offer the only pockets of relative strength.
Chapter by chapter
Breadth Collapses to Bearish
20SMA and 40SMA breadth both crater into bearish territory with no index price data available.
Leaders, Energy Bid, and Divergence
APP, QCOM, and PAYP hold up while energy names PBR and USO catch a bid; WCC and WDC sit at supply as SNOW diverges at demand.
Defensive Bias With Exceptions
Analyst sets a defensive afternoon bias, flags key SNOW and WDC levels, and warns against catching falling knives in COO, AEO, and BCRX.
Key points
20SMA breadth plunged 34 points (58% to 24%) in a single session, with 40SMA confirming the bearish shift
The 4% board shows bears more than doubling bulls (146 vs 68), reinforcing the risk-off regime
Energy is the standout exception — PBR and USO are catching bids on crude supply headlines
A narrow set of leaders (APP, QCOM, PAYP) are holding up, though APP's low RVOL warrants caution
SNOW diverges from WCC/WDC by sitting at demand rather than supply — key levels to watch are SNOW 332.15 and WDC's 462-470 zone
See SPY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 SPY in WaveFinder.
See QQQ in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 QQQ in WaveFinder.
See IWM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 IWM in WaveFinder.
See APP in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 APP in WaveFinder.
See QCOM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 QCOM in WaveFinder.
See PAYP in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 PAYP in WaveFinder.
See PBR in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 PBR in WaveFinder.
See USO in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 USO in WaveFinder.
See COO in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 COO in WaveFinder.
See AEO in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 AEO in WaveFinder.
See BCRX in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 BCRX in WaveFinder.
See WCC in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 WCC in WaveFinder.
See WDC in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 WDC in WaveFinder.
See SNOW in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 SNOW in WaveFinder.