Midday Market
Midday Wave #136: Thin Tape: Breadth Diverges as Indices Hold Gains – Wednesday 10/21/2026
0:005:20
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Episode summary
Indices sit in the green, but the bull count collapsed from 367 to 185 as short-term breadth fades while long-term breadth firms up. The desk ranks SPY, QQQ, and IWM on structural strength, flags defensive sectors as the real leadership, and lays out the exact levels — QQQ’s SMA50, SPY’s confluence, IWM’s SMA20 — that...