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WaveRider’s midday update for Monday, November 9, 2026 describes a broad relief rally that flipped the market to a bullish regime on a decisive breadth thrust. Small caps lead, ARGX is the cleanest episodic catalyst, and the hosts flag light volume and divergence near 52-week lows as reasons for caution into the close.
Key points
Breadth thrust: 61.07% of stocks are above their 40-day SMA (up 8.8 points) and 99% are above their 20-day SMA.
SPY must hold its 200-day SMA floor at $730.70, and QQQ needs to push through its 200-day SMA at $681.16.
ARGX is the cleanest episodic catalyst after acquisition news, up 3.49% from the open at $927.21 on 1.6 relative volume.
Bounces in LYME and ADRX are near 52-week lows, which does not confirm sustained institutional momentum.
Action codes: T3A (plan three days ahead for follow-through) and CRT (controlled risk-taking, keep starter positions small); respect the light volume.
See SPY 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 SPY in WaveFinder.
See IWM 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 IWM in WaveFinder.
See QQQ 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 QQQ in WaveFinder.
See ARGX 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 ARGX in WaveFinder.
See ETN 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 ETN in WaveFinder.
See NXPI 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 NXPI in WaveFinder.
See ADRX 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 ADRX in WaveFinder.