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Despite a still-Bearish regime label, breakdown counts collapsed and intermediate-term breadth is improving, with energy refiners leading on price. But thin volume across the board keeps the bias cautiously constructive rather than aggressive, with VLO and SKHY as the key levels to track into the close.
Chapter by chapter
Bearish Label, Improving Internals
Regime stays Bearish 4% but 40SMA breadth rises while 20SMA stays flat, and 40SMA sentiment flips Bullish.
Breakdown Count Collapse
Bear 4% counts fall from 360 to 193 in a single session, signaling fading downside pressure.
Energy Leads, Volume Lags
VLO and PSX lead refiners with a rising RSPG ratio, but RVOL across most names is unusually light.
Laggards and Idiosyncratic News
DELL, ALAB, MU, and SNDX move on company-specific news rather than regime factors.
Fresh Movers With Real Volume
NWG, COSM, and MWYN break onto the list with genuine RVOL conviction behind their gains.
Institutional Watch: SKHY and SCTX
SKHY sits near its demand zone with 229 funds holding and a mapped supply target; SCTX remains ambiguous.
Cautiously Constructive Afternoon Plan
Bias shifts to Controlled Risk Taking — lean into energy and utilities but size down given thin volume.
Key Levels Into the Close
Track VLO momentum, RSPG trend, and SKHY's demand zone for confirmation into the bell.
Key points
Headline regime stays Bearish 4%, but breakdown counts collapsed from 360 to 193, a bigger signal than the breakout drop.
Breadth improvement is concentrated in intermediate-term internals (40SMA), not short-term (20SMA), with sentiment quietly flipping Bullish.
Energy, led by refiners VLO and PSX, is the only sector translating breadth improvement into price, confirmed by a rising RSPG ratio.
Light RVOL (0.2–0.5) across most movers means the bias is cautiously constructive, not aggressive — size down and don't chase.
Watch VLO momentum continuation and SKHY's demand zone ($147.26–$154.41) into the close for confirmation.
See VLO in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 VLO in WaveFinder.
See PSX 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 PSX in WaveFinder.
See RSPG 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 RSPG in WaveFinder.
See ZIP 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 ZIP in WaveFinder.
See DELL 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 DELL in WaveFinder.
See ALAB 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 ALAB in WaveFinder.
See MU 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 MU in WaveFinder.
See SNDX 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 SNDX in WaveFinder.
See NWG 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 NWG in WaveFinder.
Daily bars through Oct 13, 2026.
COSM
Chart unavailable
SMA
No daily price history for COSM through Oct 13, 2026.
See MWYN 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 MWYN in WaveFinder.
See SKHY 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 SKHY in WaveFinder.
See SCTX in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 SCTX in WaveFinder.