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Midday tape is green with QQQ up 1.24% and SPY up 0.74% as 40SMA breadth surged to 50.88%. Momentum shows in RPD and TSLA continuation, while defense SIP names CACI and ESLT ride contract catalysts. Bias stays cautiously constructive with QQQ still under its SMA50.
Key points
40 SMA breadth rose 7.5 points to 50.88%, but 20 SMA breadth is stuck near 35%, so the regime is mixed.
TSLA is up 6.0% at $394.45 with an institutional tag, while RPD (up 10.1%) carries a 165% risk and is overextended.
BBNX and NTAP lack conviction with volumes under 0.5.
Capital is rotating into defense, with CACI up 2.91% on a Navy award and ESLT also in focus.
Bias is cautiously constructive: QQQ must reclaim the SMA 50 at $725.45 and SPY must beat the SMA 20 at $770.15.
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See TSLA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See RPD in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See BBNX in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See NTAP in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See CACI in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See ESLT in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See ALLE in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See ULTA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See CVLT in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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