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Sentiment reads Bullish, but a three-point drop in 20SMA breadth signals thinning short-term participation beneath the surface. With index data unavailable, the desk leans on sector rotation and single names — spotlighting Technology’s dominance, a chip-sector divergence between FORM and CBRS, and KOD’s standout volume as the cleanest breakout setup of the session.
Chapter by chapter
Bullish Sentiment Meets Cracking Breadth
Sentiment reads Bullish while 20SMA breadth drops three points, exposing thinning short-term participation despite falling bear counts.
Index Data Blackout
SPY, QQQ, and IWM data are unavailable at midday, forcing reliance on breadth and single-name signals.
Tech Leads, Staples Lag
Technology sits at the 98th percentile while Financials, Energy, and Staples lag near the bottom.
Continuation Without Confirmation
USDE and software names like VEEV and RSKD show price continuation but lack volume confirmation.
Chips Split: FORM vs CBRS
FORM breaks out on an analyst initiation while CBRS sells off on an OpenAI-Nvidia hardware headline, splitting the chip sector.
KOD Stands Alone
KOD is the lone 20% Study standout with 4.64 RVOL and a 16.92 ATR multiple, closing in on its 52-week high.
Selective High-Conviction Setups
The desk shifts from broad continuation exposure to selective, high-conviction trades in Tech and software.
Key Levels: CDNS and KOD
CDNS's 336.22–342.375 supply zone and KOD's approach to its 52-week high are flagged as the session's decisive levels.
Key points
Bullish sentiment is masking deteriorating internals — 20SMA breadth fell three points, the fastest-moving warning signal of the day.
Index-level data (SPY, QQQ, IWM) was unavailable at midday, pushing the desk to trade off breadth and single names.
Technology dominates sector rotation at the 98th percentile while Financials, Energy, and Staples sit near the bottom.
KOD is the standout 20% Study name with 4.64 RVOL and a 16.92 ATR multiple, nearing its 52-week high.
Afternoon strategy shifts from broad continuation trades to selective, high-conviction setups, with CDNS's supply zone and KOD's breakout as key levels to watch.
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See USDE in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See SNPS in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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.
See VEEV in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See RSKD 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 RSKD in WaveFinder.
See FORM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See KOD in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See CDNS in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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