Midday Market

Midday Wave #112: Breadth Cracks: Mirage Moves vs. Real Conviction – Friday 9/18/2026

Episode 1125:30

0:005:30

Episode summary

Breadth collapses fast since the open, flipping the regime from Neutral to Bearish as the 40SMA and 20SMA both cave. With no index data available, the team digs into scan tables to separate low-volume mirage moves from the handful of names — SECZ, TEM, ILMN — showing genuine participation.

Chapter by chapter

Breadth Flips to Bearish

40SMA and 20SMA breadth readings crash intraday, flipping the market regime from Neutral to Bearish.

Bull-Bear Count Reversal

Bull 4% count collapses from 363 to 93 while bears climb, dragging the gauge from Very Bullish to Neutral.

No Index Data Today

SPY, QQQ, and IWM data are unavailable, making breadth and scan tables the primary read for the session.

Low-Volume Continuation Names

Top continuation names like BTDR and TTRX look green but carry weak RVOL, signaling no real conviction.

Medical Sector Defensive Rotation

INSP and ISRG lead continuation lists on low volume, pointing to defensive rotation rather than risk-chasing.

SECZ and TRGP Stand Out

SECZ and TRGP show genuine volume participation amid an otherwise hollow tape, alongside warning flags in MT, DCX, and EMAT.

Institutional Names Stall at Supply

AMD, FFIV, and MTD stall just below supply zones, while TEM and ILMN break out with real RVOL.

Levels to Watch Into the Close

AMD's supply band and TEM's daily supply zone are the key levels that will define tone into the close.

Controlled Risk Posture

With conviction thin, the guidance is to stay small, protect capital, and let SECZ, TEM, and ILMN prove themselves.

Key points

  • Breadth deteriorated sharply intraday, flipping the regime from Neutral to Bearish on both the 40SMA and 20SMA.
  • Most green continuation names (BTDR, TTRX, INSP, ISRG) are moving on weak RVOL, indicating a lack of real conviction.
  • SECZ, TRGP, TEM, and ILMN are the standout names showing genuine volume-backed participation.
  • With no index data available today, breadth and scan tables are the primary tools for reading the market.
  • Key levels to watch into the close: AMD's $546.98–$558.86 supply band and TEM's $82.23–$83.50 supply zone.

Ticker charts

BTDR

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 BTDR in WaveFinder.

Daily bars through Sep 18, 2026.

TTRX

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 TTRX in WaveFinder.

Daily bars through Sep 18, 2026.

INSP

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 INSP in WaveFinder.

Daily bars through Sep 18, 2026.

ISRG

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 ISRG in WaveFinder.

Daily bars through Sep 18, 2026.

SECZ

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 SECZ in WaveFinder.

Daily bars through Sep 18, 2026.

TRGP

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 TRGP in WaveFinder.

Daily bars through Sep 18, 2026.

MT

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 MT in WaveFinder.

Daily bars through Sep 18, 2026.

DCX

Chart unavailable

No daily price history for DCX through Sep 18, 2026.

EMAT

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 EMAT in WaveFinder.

Daily bars through Sep 18, 2026.

AMD

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 AMD in WaveFinder.

Daily bars through Sep 18, 2026.

FFIV

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 FFIV in WaveFinder.

Daily bars through Sep 18, 2026.

MTD

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 MTD in WaveFinder.

Daily bars through Sep 18, 2026.

TEM

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 TEM in WaveFinder.

Daily bars through Sep 18, 2026.

ILMN

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 ILMN in WaveFinder.

Daily bars through Sep 18, 2026.

More from Midday Market