Midday Wave #68: The Crumbling Roof: Why the Morning Bullishness Failed – Tuesday 6/23/2026

Welcome to WaveRider Midday Wave, your mid-session market intelligence. Let's dive in. Did the morning's bullish sentiment survive a 50-percentage-point collapse in short-term breath? Honestly, no way. It didn't. So the foundation is... Look, not the foundation. Think of it like a building with a solid foundation but a crumbling roof. Explain the... Okay, so the long-term 40 SMA breath actually rose slightly, up 0.6 points to 57.28%. Mm-hmm. I mean, but the 20 SMA, that's the short-term stuff. It collapsed 50 points from 87% down to 37%. Wait, 50 points? That's massive. Exactly. Right. And that signals a massive trap for breakout traders. And the centim- So basically, still weirdly high. We're at 84 bulls versus 72 bears. Right right So the bulls are still confident but the data says Otherwise yeah And what crazy is that creates this dangerous divergence So we're in a, what, neutral but fragile? Neutral but fragile. That's the new regime since the Open. OK, so if the roof is crumbling, show me the cracks in the individual stocks. You want the chaos? Look at VTAC. Oh, VTAC. Massive R vol of 541.18 at $87, but it's down 0.94% from the open. After a gap? After a 2.4% gap up, it just couldn't hold it. That's a classic. Trap, totally. And then you have NXTS, which is wild. Wild? Like a 117.32% gap and a 17.75% change from open at $13. No way. That's a chaotic dance floor. Literally Only a few dancers are moving the rest are standing still And Bwin Mm Bwin had a 14 gap up but only a 1 change from open Exhaustion. You know what? Total exhaustion. Meanwhile, the institutional pockets are hiding in CEG and GEVX. Where are they? CEG is at $27.88, and GEVX is testing demand at $22.78. cents. So liquidity is… fragment? Completely fragmented. I mean massive volume disparities everywhere. So here's the big question for the afternoon. What do we do? Look, we pivot. Hard. From continuation to… To caution. You need to fade the open, not chase the gaps. Fading the open. OK. Any specific levels? Yeah. Watch CCL at $30.19. That's the key resistance. If it rejects there you know the trend is broken And on VTAC What about VTAC Watch If it breaks that it confirms the trap So buy the dip is dead Here's the thing. For now, yeah, it's fade the gap territory. Unless? Unless you're in those stable pockets like CEG or COAG at $31.74. COAG? Yeah, near supply at $29.67, but it's one of the few stable spots. So the morning plan is officially dead. The 50-point drop in 20 SMA breath invalidated it completely. Got it. So the takeaway is clear. Clear as day. Watch CCL at $30.19 and VTAC at $0.87. And don't chase the open. Definitely don't chase the open. Review your risk parameters for the close. Right. Stay safe out there, everyone. We'll see you at the close. See you then. That's all for today's episode of WaveRider Midday Wave, your mid-session market intelligence. See you next time.