Power Hour

Power Hour #105: Breadth Cracks: 40% to 15% in One Session – Monday 9/14/2026

Episode 1054:45

0:004:45

Episode summary

A sudden breadth collapse from 40% to 15% above the 20-day moving average signals a distribution day, flipping bull-bear internals bearish overnight. The desk breaks down what to hold (NET, GOOGL), what to cut (semis, ETN), and the exact levels that decide tomorrow’s open.

Chapter by chapter

Breadth Craters 40% to 15%

Percent above the 20 SMA and 40 SMA both collapse, and bull-bear internals flip from bullish to bearish overnight.

Hold NET, Cut the Semis

NET and GOOGL earn holds on strength while semis, ETN, and even defensive sectors like Utilities get flagged for cutting.

The $334.13 Line in the Sand

NET's key level and the 15% breadth threshold define the bounce-versus-continued-distribution scenarios for tomorrow.

Key points

  • Breadth cratered from 40% to 15% above the 20 SMA in a single session — a clear distribution day, not noise.
  • Bull 4% vs Bear 4% flipped from 169-117 bullish to 217-262 bearish overnight.
  • Hold only proven strength (NET, GOOGL); cut fading semis (AMAT, MU, SMH) and failing names like ETN immediately.
  • Even defensives like Utilities are cracking, signaling broad structural weakness, not sector-specific rotation.
  • Default to defense: smaller size, faster exits, no bottom-fishing until breadth confirms a turn above 15%.

Ticker charts

NET

Open in app
SMAUp (filled)Down (hollow)

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 NET in WaveFinder.

Daily bars through Sep 14, 2026.

GOOGL

Open in app
SMAUp (filled)Down (hollow)

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 GOOGL in WaveFinder.

Daily bars through Sep 14, 2026.

AMAT

Open in app
SMAUp (filled)Down (hollow)

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 AMAT in WaveFinder.

Daily bars through Sep 14, 2026.

MU

Open in app
SMAUp (filled)Down (hollow)

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 MU in WaveFinder.

Daily bars through Sep 14, 2026.

SMH

Open in app
SMAUp (filled)Down (hollow)

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 SMH in WaveFinder.

Daily bars through Sep 14, 2026.

ETN

Open in app
SMAUp (filled)Down (hollow)

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 ETN in WaveFinder.

Daily bars through Sep 14, 2026.

EWP

Open in app
SMAUp (filled)Down (hollow)

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 EWP in WaveFinder.

Daily bars through Sep 14, 2026.

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