Midday Market

Midday Wave #117: Real Rotation, Narrow Volume: Tech Leads But Confirmation Lags – Friday 9/25/2026

Episode 1174:55

0:004:55

Episode summary

Breadth signals diverge as long-term measures firm while short-term momentum fades, even as new lows collapse from 210 to 67. Technology dominates sector leadership with RSPT at the 100th percentile, but breakout names like CRDO and VRT are moving on thin RVOL, leaving the rotation real but unconfirmed heading into the close.

Chapter by chapter

Breadth Divergence Emerges

Host and analyst review shifting breadth signals, noting long-term firming versus short-term weakening alongside a sharp plunge in new lows.

Tech Leads, Volume Lags

Analyst breaks down Technology's sector leadership and breakout candidates like CRDO, ACLS, and COHU, all showing weak RVOL readings.

Stocks in Play & 20% Study

VRT's new Wells Fargo-driven entry, cautionary movers BB and BTDR, and an ETF-heavy 20% Study list lacking core stock confirmation.

No Index ETFs, Watch CRDO & VRT

Analyst outlines trading by breadth and scans without SPY, QQQ, or IWM, flagging CRDO and VRT as the key volume watch items into the close.

Key points

  • Breadth is diverging: the 40SMA measure is firming from Oversold levels while the 20SMA is weakening short-term.
  • New lows collapsed from 210 to 67, the session's most constructive signal, even as bull 4% also declined.
  • Technology is the lone leading sector, with RSPT at the 100th percentile, but breakout and institutional names are all trading on sub-1.0 RVOL.
  • The 20% Study is dominated by ETFs/ETNs rather than core single stocks, reinforcing that volume confirmation is still missing.
  • Plan shifts to trading by breadth and scans (no SPY/QQQ/IWM), staying cautiously constructive but selective, with CRDO and VRT as key volume watch items.

Ticker charts

CRDO

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 CRDO in WaveFinder.

Daily bars through Sep 25, 2026.

ACLS

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 ACLS in WaveFinder.

Daily bars through Sep 25, 2026.

COHU

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 COHU in WaveFinder.

Daily bars through Sep 25, 2026.

AEHR

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 AEHR in WaveFinder.

Daily bars through Sep 25, 2026.

LSCC

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 LSCC in WaveFinder.

Daily bars through Sep 25, 2026.

ADI

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 ADI in WaveFinder.

Daily bars through Sep 25, 2026.

ENTG

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 ENTG in WaveFinder.

Daily bars through Sep 25, 2026.

MPWR

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 MPWR in WaveFinder.

Daily bars through Sep 25, 2026.

VRT

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 VRT in WaveFinder.

Daily bars through Sep 25, 2026.

BB

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 BB in WaveFinder.

Daily bars through Sep 25, 2026.

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 25, 2026.

STAA

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 STAA in WaveFinder.

Daily bars through Sep 25, 2026.

KLAG

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 KLAG in WaveFinder.

Daily bars through Sep 25, 2026.

MSTW

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 MSTW in WaveFinder.

Daily bars through Sep 25, 2026.

MULL

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 MULL in WaveFinder.

Daily bars through Sep 25, 2026.

MRNX

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 MRNX in WaveFinder.

Daily bars through Sep 25, 2026.

FBL

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 FBL in WaveFinder.

Daily bars through Sep 25, 2026.

RSPT

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 RSPT in WaveFinder.

Daily bars through Sep 25, 2026.

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