Midday Market

Midday Wave #108: Breadth Collapse: One Session, One Green Light – Monday 9/14/2026

Episode 1085:04

0:005:04

Episode summary

20SMA breadth crashed from 40% to 14% in a single session as a semiconductor-led unwind flipped the market from cautious-bullish to decisively bearish. With AMAT, SOXX, SMH, and TSM all sharply lower and index price data unavailable, NET emerges as the lone actionable long, while traders are urged to play defense and watch key levels on NET and SMH.

Chapter by chapter

Breadth Collapse & Regime Flip

20SMA and 40SMA breadth crater in one session as sentiment flips bearish, with bears overtaking bulls.

Semiconductor Unwind Details

AMAT, SOXX, SMH, and TSM lead the selloff while SPY, QQQ, and IWM price data is unavailable.

NET: The Lone Green Signal

NET holds above its key level as the only actionable long, while SMH's heavy volume reveals distribution, not accumulation.

Isolated Catalysts & Thin Institutional List

TLX, ARMP, FRSH, and BLSH offer isolated sparks, but the institutional momentum list is dominated by ETF/ETN wrappers with one speculative outlier, FGL.

Defense Mode: Levels to Watch

Traders are told to favor small size and tight stops, watching $328.36 on NET and $543.72 on SMH as the key levels into the close.

Key points

  • 20SMA breadth collapsed 26 points (40% to 14%) in a single session, signaling a full regime flip to bearish.
  • A semiconductor unwind (AMAT -6.1%, SOXX -5.2%, SMH -4.4%, TSM -3.2%) is the primary driver, with major index price data unavailable.
  • NET ($328.36, +7.1%) is the only actionable long on the board; a loss of that level removes the sole bullish signal.
  • SMH shows the heaviest volume on the continuation board but is red — distribution, not accumulation.
  • The institutional momentum list is thin, dominated by ETF/ETN wrappers rather than single-name conviction; traders should favor defense with small size and tight stops.

Ticker charts

NET

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 NET in WaveFinder.

Daily bars through Sep 14, 2026.

SMH

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 SMH in WaveFinder.

Daily bars through Sep 14, 2026.

SOXX

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 SOXX in WaveFinder.

Daily bars through Sep 14, 2026.

TSM

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 TSM in WaveFinder.

Daily bars through Sep 14, 2026.

AMAT

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 AMAT in WaveFinder.

Daily bars through Sep 14, 2026.

SPY

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 SPY in WaveFinder.

Daily bars through Sep 14, 2026.

QQQ

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 QQQ in WaveFinder.

Daily bars through Sep 14, 2026.

IWM

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 IWM in WaveFinder.

Daily bars through Sep 14, 2026.

TLX

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 TLX in WaveFinder.

Daily bars through Sep 14, 2026.

ARMP

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 ARMP in WaveFinder.

Daily bars through Sep 14, 2026.

FRSH

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 FRSH in WaveFinder.

Daily bars through Sep 14, 2026.

BLSH

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 BLSH in WaveFinder.

Daily bars through Sep 14, 2026.

AVXX

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 AVXX in WaveFinder.

Daily bars through Sep 14, 2026.

ASTN

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 ASTN in WaveFinder.

Daily bars through Sep 14, 2026.

QBTZ

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 QBTZ in WaveFinder.

Daily bars through Sep 14, 2026.

CRCG

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 CRCG in WaveFinder.

Daily bars through Sep 14, 2026.

CRCA

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 CRCA in WaveFinder.

Daily bars through Sep 14, 2026.

FGL

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 FGL in WaveFinder.

Daily bars through Sep 14, 2026.

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