Power Hour

Power Hour #110: Breadth Thrust: Trim the Losers, Ride the Leaders – Monday 9/21/2026

Episode 1104:15

0:004:15

Episode summary

With the major indices dark for the session, the hosts turn to breadth data to read the market’s true regime, uncovering a sharp breadth thrust led by Tech and Software while Energy and Utilities collapse on an Iran-driven crude slide. The episode closes with a volume-based playbook for late entries and sets up tomorrow’s key levels in crude and software leadership.

Chapter by chapter

Trading Blind, Reading Breadth

With index prices dark, the analyst pivots to breadth data to gauge the market's true regime.

Breadth Thrust: 58% Above 20 SMA

A 22-point single-day surge in breadth signals a thrust, though the lagging 40 SMA keeps it unconfirmed.

Tech and Software Sweep the Board

RSPT, ZS, FTNT, and QLYS all post strong gains, confirming broad-based sector strength.

Energy and Utilities Crack

RSPG and RSPU fall to the zero-th percentile after EQNR fails on an Iran-driven crude slide.

Volume Test: A vs. FFIV

Two similar price moves reveal why RVOL separates real institutional buying from empty hype.

JILL's Pressure-Cooker Setup

A red print with RVOL of 7.7 signals a coiled move that requires a reclaim above 23.66 to act.

Trim Losers, Ride Leaders

The final playbook: cut Energy and Utilities, size down, and demand confirmation before adding risk.

Crude Headlines and the ZS Trigger

Overnight Iran and crude headlines remain the key catalyst, with ZS's high as the software continuation level.

Key points

  • A 22-point single-day jump in stocks above the 20 SMA marks a breadth thrust, but the flat 40 SMA means the regime shift isn't fully confirmed yet.
  • Tech and Software led broadly today (RSPT, ZS, FTNT, QLYS), while Energy and Utilities broke down to the zero-th percentile on an Iran-driven crude slide.
  • Volume is the tiebreaker: A's 3.9% move on 0.6 RVOL is not tradable, while FFIV's similar move on 1.4 RVOL is institutional-quality.
  • JILL's RVOL of 7.7 flags a coiled setup — wait for a reclaim above 23.66 rather than front-running it.
  • With the longer-term trend still early-stage, size down and demand confirmation before adding risk into tomorrow's session.

Ticker charts

SPY

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 SPY in WaveFinder.

Daily bars through Sep 21, 2026.

QQQ

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 QQQ in WaveFinder.

Daily bars through Sep 21, 2026.

IWM

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 IWM in WaveFinder.

Daily bars through Sep 21, 2026.

RSPT

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 RSPT in WaveFinder.

Daily bars through Sep 21, 2026.

ZS

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 ZS in WaveFinder.

Daily bars through Sep 21, 2026.

FTNT

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 FTNT in WaveFinder.

Daily bars through Sep 21, 2026.

QLYS

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 QLYS in WaveFinder.

Daily bars through Sep 21, 2026.

RSPG

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 RSPG in WaveFinder.

Daily bars through Sep 14, 2026.

RSPU

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 RSPU in WaveFinder.

Daily bars through Sep 16, 2026.

EQNR

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 EQNR in WaveFinder.

Daily bars through Sep 21, 2026.

A

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 A in WaveFinder.

Daily bars through Sep 21, 2026.

FFIV

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 FFIV in WaveFinder.

Daily bars through Sep 21, 2026.

JILL

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 JILL in WaveFinder.

Daily bars through Sep 21, 2026.

More from Power Hour