Midday Wave #127: Flying Blind: Breadth Flips Bullish, Volume Doesn’t Show – Friday 10/9/2026

Episode summary

With major index data dark, this episode breaks down a midday regime shift using breadth, sentiment, and signal-level internals. Breadth and sentiment flip bullish overnight, but thin twenty-SMA structure and sub-1.0 RVOL readings across leaders like MRNX and PANW suggest the move lacks real conviction. The call: stay cautiously constructive, watch key levels, and don’t chase sentiment without volume confirmation.