Midday Wave #13: Oil Crashes, Energy Stocks Rally: Inside the Midday Rotation – Wednesday 3/11/2026

Market Recap — Session So Far

Markets have recovered from early weakness with the S&P 500 up 0.5% as oil’s sharp retreat following IEA emergency meeting headlines provides relief from geopolitical tensions.

• Major indices flipped positive after the International Energy Agency called an emergency meeting to discuss strategic reserve releases, sending crude down over 11% to $84.12
• Market breadth shows Bulls at 73 and Bears at 73 in the 4% metric, reflecting the balanced but improving sentiment as energy concerns ease
• Volume running above average as traders respond to the oil volatility and geopolitical developments around Iran conflict resolution hopes

Momentum Watch — Breakout Continuation & SIP

• LUNL surging 10.6% with clean momentum in the Financial sector, showing strong relative volume characteristics for continuation plays
• SIP alerts highlight MAZE with analyst upgrade to $97 target and 10% gap move, plus VOYG beating Q4 estimates with 9.5% intraday gains
• Memory storage names like WDC (+6.33%) and MU (+5.92%) extending yesterday’s strength as semiconductor index climbs 2.1%

Strategy Check — D9M, 9M Catalyst & Study Updates

• ABC/CRT approach on energy sector weakness as RSPG Energy sector ETF showing resilience at +4.19% despite oil’s collapse — controlled risk entry zone
• BTFD setup developing in Consumer Discretionary (RSPD) which hit new lows at -1.3% but travel names may find support if oil stays weak
• Failed breakdown watch: Healthcare sector RSPH at -2.23% showing persistent weakness, avoid catching this falling knife until stabilization

Quick Takes & Wrap-Up

• TSLA — holding above $400 support at $403.49, watch for afternoon continuation if oil stays weak and travel sentiment improves
• CIENA — massive 8.22% surge on AT&T’s $250B network commitment, monitor $350 resistance for potential breakout extension
• Cautiously optimistic bias for afternoon session as oil retreat provides relief, but Iran blockade remains in place pending further diplomatic developments