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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.
See SPY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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.
See QQQ 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 QQQ in WaveFinder.
See IWM 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 IWM in WaveFinder.
See RSPT 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 RSPT in WaveFinder.
See ZS 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 ZS in WaveFinder.
See FTNT 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 FTNT in WaveFinder.
See QLYS 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 QLYS in WaveFinder.
See RSPG 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 RSPG in WaveFinder.
See RSPU 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 RSPU in WaveFinder.
See EQNR 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 EQNR in WaveFinder.
See A 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 A in WaveFinder.
See FFIV 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 FFIV in WaveFinder.
See JILL in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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