Midday Wave #61: Market Regime Flip: Tech Leads Selective Rally – Thursday 6/11/2026

Welcome to WaveRider Midday Wave, your mid-session market intelligence. Let's dive in. Did the morning's bearish breath signal just get your... Honestly? Oh, absolutely. We saw a complete regime shift. Mm-hmm. So how has the regime shifted since the... So basically, well, sentiment flipped to 4% bullish. But here's the thing. The 20 SMA breath actually contracted to 26%. Wait, 26%? Down from where? I mean, down 2 pp from yesterday's 28 percent. So the water level is dropping slightly. Right. But the tide has turned... Exactly. The direction of the current has completely reversed. We went from 157 bull versus 209 bear this morning to 244 bull versus 90 bear now. Oh, wow. That is a massive... Huge. And while the 40 SMA breadth is down 0.6 pp to 51.71%, the sentiment flip is what matters. Yeah, right. Right. And that's exactly why technology is leading the... A charge. Yeah. And what's crazy is the daily rise is 1.33%, while comm services lags with a 0.14% fall. Hmm. Like, so it's a relay race where tech took the baton? Pretty much. The volume is selective, though. R vol is ranging from 0.2 to 2.0, not broadly institutional. Right, right. Okay, so which specific signals are driving this momentum, then? You know what? IDCC is leading the pack. They posted an 11.4% gain with a 2.0 R vol. Yeah, 11.4%? That's wild. Here's the thing, it is. And we have new SIP entries Intel at 107 and DAKT at 19 Oh man Wait DAKT at 19 Yes. And for institutional confirmation, PURR shows a 15.11% funds increase. Right. Oh, wow. 15.11%. That's a magnet pulling it up. Exactly. BNAI is up 2.4% too, and we set a price target on UMAC at $22.85. Mm-hmm. Look, see, that's the thing. The buying is real, but it's selective. Yeah, totally. I mean, totally. It's not a blanket buy. It's targeted momentum. So, given the selective but powerful buying, how should traders adjust their afternoon execution? Well, I mean, you adjust bias to cautiously bullish, but you keep an eye on that 20 SMA drop. Got it. That contraction at 26% is the risk metric. Right. And you need to watch the $290 level for IDCC. That's the key resistance. Okay. $290. Got it. So focus on technology sector continuation breakouts. That's the primary setup to monitor into the close. Right. Right. That sets the stage for the final hour. Let's wrap up with the one thing to... Remember, the regime flipped to bullish driven by technology, but the 20 SMA drop suggests the rally is selective. Mm-hmm. Follow the momentum in IDCC and PURR while respecting the 290 res... Exactly. And check your morning watch list for those tech breakouts. Set alerts for the $290 level on IDCC before the close. That's the plan. Sounds good. We'll be back with the close. Stay tuned. That's all for today's episode of WaveRider Midday Wave, your mid-session market intelligence. See you next time.