Power Hour #76: Breadth Cracks, GOOGL Carries: Control Mode Into the Close – Friday 7/31/2026

Welcome to Wave Rider Power Hour, your final hour tactical edge. Let's dive in. The index looks calm. Underneath it, breath just fell off a cliff, 26 points in one session. Let's get you positioned before the bell. Okay, so first thing, regime. Did today hold or did it flip on us? It flipped, hard. Oh, wow. How hard? Percent above the 20 SMA cratered from 61% to 35%. That's a 26-point collapse intra-day. Mm-hmm. Wait, in one session? One session. This is a reversal day, not a trend day. The tape looks fine because mega-cap tech is masking it. And the 4% signals? Bull 4% signals fell from 398 to 90. Bears climbed to 122. Right. Oh, man. Yeah, sentiment reads bearish on both the 4% and the 40 SMA gauges. Leadership is narrowing, not rotating. Yeah. So it's like... It's a riptide under a comm service. Exactly. So with breath, that broken, what do we actually do in the next hour? Simple. ABC. Always be in control. Capital preservation over aggression. Got it. Okay, give me the holds. What are we keeping? G-O-O-G-L-N-G-O-O. Up 6.5% near $355. Arval 12 and 11 institutional footprints backing it. Cleanest continuation trade on the board. Keep it. Yeah. That's the one carrying the tape. Honestly, it is the tape today. It's the whole story. What else holds? C-O-H-U. Up 9.2% holding at $46.45. Right, right. That's the earnings. Gap. Right. Confirmed winner holding its gap. As long as it stays above $46.45, you keep it. Anything else green? Two on the watch and hold. SPXC at $199.12 green after raising guidance. And CCJ firm at $88.18 on raised sales guidance. Exactly. Like both on better guidance. Good. Navacuts. What goes? TBBK down 4.5% at $64.78 after they lowered Q4 EPS. Exit before the bell. Just cut it. Look, cut it. It's a leaking lifeboat. Get out before the guidance drags it lower. What else? PRM. It's fading despite a green print. Guidance isn't holding. Get out. Wow. Wait, green but you're cutting? See, that's the thing. A green print doesn't mean much when the guidance behind it just cracked. Fair. Anything to interlate? I mean, not confirmed alongs. Here's the thing. Not confirmed. Don't catch the falling knife. There are 290 reversal bullish signals flashing under the tape, but flashing isn't confirming. Right. So no chasing. No chasing. Control mode into the close. Got it. Control mode. So what changes for tomorrow? The big overnight question. Does GOGL's 6.5% get follow through? Yeah, that's the thing. If it doesn't. Then the one stock carrying everything stops carrying it, and the breath damage shows on the surface. So what levels am I stocking? COHU above $46.45 is your momentum setup. That's the clean one. And the short side? TBBK below $64.78 stays weak if those guidance fears linger. What about the index? S-P-Y-Q-Q-I-W-M-L? We don't have index levels today, so trade individual stock structure not assumed lines. Oh, wow. Like driving without a dashboard. Exactly. Read the road directly. Watch the stocks. Watch breath. And the overall. Plan? Defensive first until the 20 SMA breath recovers off 35%. Until then, you stay cautious. Yeah. So bottom line breath cratered 26 points while GOOGL carried the tape. That's a warning sign. Not a green light. Control your risk. Hold the winners. Cut the Biden's misses. Don't chase the reversal names. That's the whole playbook. So basically perfect. Control into the clothes everybody. We'll see you back here tomorrow for the open. That's all for today's episode of Wave Rider Power Hour. Your final hour tactical edge. See you next time.