Midday Wave #12: Calm Surface, Narrow Rally — Tech Leads While Breadth Warns | WaveRider Midday Wave – Tuesday 3/10/2026

Market Recap — Session So Far

Markets showing mixed action midday as major averages digest yesterday’s oil-driven volatility, with SPY flat and tech showing modest strength after yesterday’s recovery from early lows.

• SPY holding flat near unchanged while QQQ edges up 0.1% as tech outperforms on semiconductor strength
• Market breadth remains weak with Bull 4% at just 186 vs Bear 4% at 70, showing underlying distribution
• Volume running below average as traders await clearer direction from G7 oil stockpile meeting headlines

Momentum Watch — Breakout Continuation & SIP

• TONX leading momentum plays with 10.6% gain on 0.8 RVOL, software sector showing relative strength
• MU getting SIP attention on next-gen DRAM collaboration news, trading up 3.4% from open at $376.50
• AAOI surging 6.9% from open on price target raise, telecom-fiber optics showing sector rotation

Strategy Check — D9M, 9M Catalyst & Study Updates

• CRT setup in CRWD at $434.13 sitting right at supply zone with 2.9% ADR and clean risk levels
• MAGNA53 developing in AGX near 52-week highs at $466.38 with 11.7% move from lows today
• Healthcare sector breaking down with RSPH at fresh lows, avoid biotech weakness spreading

Quick Takes & Wrap-Up

• INTU — watching demand zone at $440-427 for afternoon bounce setup in software strength
• BKNG — key support at $4240 weekly demand, travel names sensitive to oil price stability
• Neutral bias into close with oil stabilization helping but breadth remaining poor, energy rotation continues