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Despite a fresh Nasdaq record, only 24.43% of stocks trade above their 40-day average — a breadth divergence echoing December 1999 — driving a Cautious Bearish regime call. The team breaks down a hawkish Fed hike with no cuts until 2028, financials getting crushed by rising yields and AI disruption fears, and a tactical playbook built around patience, WDC, and today’s PMI and five-year auction catalysts.
Nasdaq hits a record but only 24.43% of stocks are above their 40-day average, echoing a 1999-style breadth divergence.
A unanimous 25bp hike, no cuts until 2028, 10-year yields near 5%, plus Iran and US-China tensions ahead of the Trump-Xi summit.
Breadth ticks up slightly as semis and materials lead while financials sink on rate pressure.
Meta's Muse AI agent hits 500,000 users in a week, adding disruption fear to financials already hurt by yields.
Only five names on the continuation scan, with Western Digital (WDC) as the clear leader alongside SSL, IONQ, and WOR.
FHP and COUGAR action codes guide a patient approach around the 9:45 PMI prints and the 1 PM five-year auction.
See WDC in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See SSL 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 SSL in WaveFinder.
Daily bars through Sep 23, 2026.
See IONQ 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 IONQ in WaveFinder.
Daily bars through Sep 23, 2026.
See WOR 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 WOR in WaveFinder.
Daily bars through Sep 23, 2026.
See SCHW in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See ALL in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See WFC in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
See META in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Daily bars through Sep 23, 2026.
