Next Day Prep #324: Breadth Collapse: How a Hawkish Presser Broke the Tape – Wednesday 9/16/2026

Episode summary

The Nasdaq’s near 1% gain evaporated after Fed Chair Kevin Warsh’s press conference, flipping the regime from Cautious-Bearish to outright Bearish with breadth cratering to 126 bulls versus 181 bears. The team breaks down which signals confirmed real strength versus narrow concentration, then builds a data-driven playbook around specific watchlist levels and a critical 10-year yield tripwire for tomorrow’s session.