Midday Wave #32: Midday Flip: Bullish Sentiment, Narrow Breadth – Wednesday 4/22/2026

Welcome to WaveRider Midday Wave, your mid-session market intelligence. Let's dive in. Did the morning plan change? Sentiment flipped bullish midday, but breath tells a different story. Let's decode what's real, what's fragile, and how to trade it. Mm-hmm, exactly. Regime did flip. Bullish count jumped from 164 to 247. Bear count dropped from 282 to 87, confirmed at that 4% threshold. So morning was cautious. Now it's bullish. But what about breath? Yeah, breath collapsed. 20 SMA down 15 percentage points to 57 percent. 40 SMA also drifted down 70.68 percent to 70.28 percent. So narrowing leadership, even as sentiment flipped. Oh, wow. So it's like the traffic light turned green mid-intersection? Wait, mid-intersection? That's weird. Drivers accelerate but the roads narrower Right exactly Narrowing lanes but acceleration real Sector rotations shifted too financials and software leading with mid FFM candidates emerging Hmm. So, sentiment's bullish, but breadth's under 60%. Which signal do we really trust? I mean, do we ride the sentiment wave or wait for breadth to catch up? The regime is shifting, but only if breadth doesn't keep eroding. So we watch it like a hawk. Got it. So moving on, what about the signals? ABTCs up 12.5%, RVOL 2.3. Is that real? Oh, yeah. RSPT at 3.01, 100th percentile, no daily change. RSPF, financials at 98th stable. Institutional backing confirmed. Mm-hmm. And SIP entries? Anything new? ASTS plus 8.69% post-FCC approval, OTYS plus 1.19% after guidance upgrade, both added midday. Wait hold on ABTC was plus 12 Right so what about the live scan leaders ABTC plus 12 percent MULL plus 14 percent JBIO plus 11 percent All high RVOL all with institutional volume. Okay, so that's strong. But what about LITE? I saw you flag it earlier. Yeah, LITE plus 70.07 ATR, 72.5% fund ownership, and whoa, 1330% fund increase since the 20% cutoff. Whoa. Massive institutional momentum. Hmm, so the signals align, but what does that mean for afternoon execution? Here's the thing. AVGO at $419.33 plus 4.3% and MSFT at $431.73 plus 1.8% are the confirmation levels. Breakout failure there reverses momentum. Right And FFM candidates All under 2 risk per ATR percent maw Controlled environment But if 20 SMA breadth stays under 60 we tighten entry rules Exactly. And ASTS and OTYS are the ads, not the opens. Mm-hmm. And LITE? It's the one setup worth watching in to close. Institutional inflow, sector tailwinds, high ATR. So, final thought. Sentiment's bullish, but breath's constrained. Yep. Broad-based sentiment versus narrow leadership. If you can't see it in breath, you can't trade it confidently. Discipline isn't optional. It's the edge. Review your risk per ATR percent ma, watch AVGO and MSFT for confirmation, and monitor LITE's institutional momentum into close. Right. Bullish bias, but tight risk, always. This is WaveRider Midday Wave. Stay sharp and keep an eye on LITE into close. That's all for today's episode of WaveRider Midday Wave, your mid-session market intelligence. See you next time.