Power Hour #80: Breadth Cracks: Why Good News Got Sold Today – Thursday 8/6/2026

Welcome to wave rider power hour your final hour tactical edge. Let's dive in okay So breath just fell off a cliff into this clothes 138 points gone in one session Indexes look calm. They're lying. Let's get tactical. Okay, so did the regime hold today or did it flip on us? Honestly, it flipped percent above the 20 SMA cratered to 114 from 252 yesterday That's your 138 point drop mm-hmm. Whoa in one session one session and the 40 SMA slipped to 5897 from 65 percent right so it's not just not just noise Short-term reads neutral, but through the 40 SMA lens bearish momentum's bleeding out. Yeah, I mean, what's the character of the day then? So basically choppy reversal Participations fading under a calm surface like a stadium emptying while the scoreboard still looks fine. Oh, wow Hmm the energy leaves before the score changes. Exactly Look if the floor is cracking, what do we do with the next 60 minutes? Give me the playbook. Okay, so first cut utilities RSPU is at the 0th percentile fresh low Capitals fleeing defensives right right gone. What else? Here's the thing Titan stops or cut FTDR and DNOW both had good earnings and both are red. Yeah Wait, good news getting sold getting sold FTDR raised FY26 guidance down half a percent of the open DNOW beat Q2 down almost 2 percent. Exactly. That's the tell right there. That's the whole tell. No appetite for good news today. Oh Man, what about the reversal names? Anything worth catching? I mean, no, it's all red PRVA down 12, melee down six, moosa down five and a half. That's exhaustion not a bottom Mm-hmm. So don't try to be a hero. Don't try to be a hero Okay, anything to actually enter? One name DXPE19291 up 14.6% on 5.3RV all cleanest volume backed breakout on the board. Oh, that's real buying. Yeah, real buying. But and this matters only on confirmation it has to hold above the open into the close and if it doesn't then you skip it. No Skip it. Same price action is DXPE but 229% risk. Not worth it. Yeah, that's a lot of risk for the same move For the same move exactly. So where is the money going if it's leaving defensives? Materials RSPM is at the 100th percentile cyclicals are absorbing everything utilities are shedding So lean into that strength right lean into it. That's where the flows are rotating All right, that's tonight's action. What carries into tomorrow? Watch Uber after hours It gapped down 4.26 on 3.09RV all but analysts are holding by ratings And that's a read on broader tech and leisure sentiment if support holds that's your tell Yeah, totally. Okay, any setup forming for tomorrow? DXPE above 19291 stays the lead continuation candidate And rely it's a pullback buywatch after a price target raise down 6.5% of its 52 week high Nice. So what's the line in the sand? 5897 that 40 SMA breadth level break below it the downshift confirms Right and what flips us back to offense Reclaimed 65% that resets the bullcase until then treat every rally as selling to strength So defense first Defense first let me lock this in breath collapsed 138 points good news got sold That's a defense first tape only DXPE earns risk tonight Everything else gets trimmed or tightened. That's it protect what you have don't force new plays Watch that 40 SMA line. It decides tomorrow. That's the close. See you at the bell That's all for today's episode of wave rider power hour Your final hour tactical edge see you next time