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Breadth deteriorated sharply intraday, flipping the regime from Cautious to Bearish as the 20SMA breadth read collapsed 56 points. With leadership narrowing almost entirely to semiconductors, the analyst lays out why traders should size down, demand volume confirmation on breakouts, and watch key ADI and TSM levels into the close.
40SMA and 20SMA breadth readings deteriorate sharply, flipping sentiment from Cautious to Bearish and reversing the Bull-Bear split into distribution.
Technology remains the lone sector with a strong RS rank while Financials and Consumer Discretionary sit near the bottom of the percentile rankings.
Top continuation names like PLTU, PLTR, and MYGN post gains on weak relative volume, with TRT standing out as the only price-volume pairing.
DVN and BBIO offer genuine catalyst-backed setups, while ONON shows a high-RVOL gap-and-fade warning sign.
The 20% Study shows institutional support concentrated in chips, with TSM and ALAB at supply and ADI and MTSI at demand.
The bias shifts to Defensive, Bearish with a plan to size down, require volume confirmation, and track ADI's demand zone and TSM's supply zone.
Recap of the bearish regime flip and a reminder to reassess if TRT or ADI break their levels into the close.
See PLTU in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See PLTR 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 PLTR in WaveFinder.
Daily bars through Sep 23, 2026.
See MYGN in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See TRT 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 TRT in WaveFinder.
Daily bars through Sep 23, 2026.
See DVN 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 DVN in WaveFinder.
Daily bars through Sep 23, 2026.
See BBIO in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See ONON in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See TSM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See ALAB in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See ADI in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See MTSI 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 MTSI in WaveFinder.
Daily bars through Sep 23, 2026.
