Next Day Prep #326: Green Headline, Bearish Underneath: The Breadth Collapse – Friday 9/18/2026

Episode summary

Despite the S&P and Nasdaq closing green, internal breadth and the bull-bear gauge collapsed hard enough to flip the regime call to outright Bearish. The hosts break down why semis masked a narrow, distribution-heavy session, which signals actually held up, and the exact breadth and yield levels to watch tomorrow.