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Indexes closed green but breadth quietly fell to 51.9%, exposing a narrow chip-led rally powered by SOX strength. The team breaks down the day’s catalyst-driven winners like SMCI and MRNA versus the DKS-led apparel selloff, then sets clear levels and breadth thresholds ahead of tomorrow’s NVDA earnings and PCE double-header.
All three major indexes closed green, but breadth dropped to 51.9%, signaling a bearish divergence beneath the surface.
The SOX's 1.4% snapback drove the gains while the bull-bear gauge showed shrinking participation versus the prior day.
Darvas Box and Continuation signals led the tally, with SMCI and MRNA rallying on distinct fundamental catalysts.
DKS plunged over 30% on soft Foot Locker results, dragging Nike, Deckers, and Lululemon lower alongside a broader energy selloff.
Tomorrow brings NVDA earnings, July PCE, Q2 GDP, and a 5-year note auction — a loaded catalyst day requiring patience.
Specific price levels for NVDA, SMCI, HOOD, and MRNA are laid out alongside the 55%/45% breadth thresholds that define bullish or bearish regime shifts.
See SMCI in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Aug 25, 2026.
See MRNA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Aug 25, 2026.
See DKS 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 DKS in WaveFinder.
Daily bars through Aug 25, 2026.
See NKE in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Aug 25, 2026.
See DECK in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Aug 25, 2026.
See LULU in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Aug 25, 2026.
See HOOD 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 HOOD in WaveFinder.
Daily bars through Aug 25, 2026.
See NVDA 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 NVDA in WaveFinder.
Daily bars through Aug 25, 2026.
