Power Hour

Power Hour #124: Power Hour: Breadth Flips Bullish, Eyes on OKTA’s $220 Line – Friday 10/9/2026

Episode 1244:55

0:004:55

Episode summary

A 60-minutes-to-the-close breakdown of a sharp bull-bear sentiment flip and improving market breadth. The desk sets a clear playbook — hold confirmed leaders like MRNX, FFIV, and ELV, cut unconfirmed breakdowns in CD and ALHC, and flags a volume-backed late entry in QVCG. The episode closes with tomorrow’s setup: a software rotation led by OKTA and SAIL, contingent on breadth holding green into the close.

Chapter by chapter

Breadth Climbs, Bull-Bear Ratio Flips

Breadth above the 40 SMA rises to 28.1% and the bull-bear ratio flips bullish, but the move stays narrow and selective.

Holds, Cuts, and One Late Entry

MRNX, FFIV, and ELV are held as confirmed leaders while CD, ALHC, and AVNT get cut; QVCG stands out as a volume-backed late entry.

Software Rotation and Overnight Risk

OKTA and SAIL point to a software rotation out of Health Care, with overnight longs contingent on breadth staying green into the close.

Key points

  • Bull-bear sentiment flipped from 177/93 bearish to 122/93 bullish, with breadth above the 40 SMA rising 3.2 points to 28.1%.
  • Only 28% of names are above their 40 SMA — this is a selective trend day, not a broad breakout.
  • Hold confirmed leaders MRNX, FFIV, and ELV into the close; cut unconfirmed breakdowns CD and ALHC, and fade AVNT.
  • QVCG's 3.7 RVOL makes it the one credible late-day reversal entry — volume confirmation separates signal from noise.
  • Tomorrow's setup centers on OKTA holding above $220 alongside SAIL strength, signaling a possible Health Care-to-software rotation — but only carry longs overnight if breadth stays green.

Ticker charts

MRNX

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 MRNX in WaveFinder.

Daily bars through Oct 9, 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 Oct 9, 2026.

ELV

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 ELV in WaveFinder.

Daily bars through Oct 9, 2026.

CD

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 CD in WaveFinder.

Daily bars through Oct 9, 2026.

ALHC

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 ALHC in WaveFinder.

Daily bars through Oct 9, 2026.

AVNT

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 AVNT in WaveFinder.

Daily bars through Oct 9, 2026.

QVCG

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 QVCG in WaveFinder.

Daily bars through Oct 9, 2026.

OKTA

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 OKTA in WaveFinder.

Daily bars through Oct 9, 2026.

SAIL

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 SAIL in WaveFinder.

Daily bars through Oct 9, 2026.

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