Power Hour #35: Regime Shift Confirmed: Breadth Breakout & AMZN Crossroads

WaveRider Power Hour: Tech Titans Take Charge, Bulls Regain Control

The market regime has shifted more bullishly since the open, evidenced by significant expansion in market breadth.

Breadth is expanding strongly, with the % Above 20 SMA at 148% today, a substantial increase of 27.0 percentage points from yesterday’s 121%.
Technology (RSPT) is leading, showing a “flat” trend and remaining at its maximum ATR value of 3.85, indicating strong sector participation.
Today’s character suggests a trend day, as positive breadth and increased sector strength point towards sustained bullish momentum.

AMZN shows a strong continuation (2LYNCH) signal at $276.40, up 1.0% with RVOL of 0.7.
AZTA displays a notable bullish reversal signal at $18.61, down -24.4%, indicating potential dip buying opportunities.
DIA, showing a positive sentiment with “peace hopes,” rises at $492.96, with rvol of 0.82 could continue into close. ESTA also raised guidance.
PLASTICS is the most relevant action code today, as Materials and Consumer Staples are at 100% for the past 20 days.

Consider scaling back positions experiencing significant reversals, such as AZTA at $18.61, especially if it breaks below key support.
If AMZN holds above $276.40 into the close, consider entering a continuation trade, targeting further upside.
Since index data is unavailable, it’s not possible to assess SPY direction.

Monitor overnight news regarding peace talks, especially its impact on DIA and overall market sentiment.
Watch for a continuation breakout in AMZN if it opens above $276.40, building on today’s momentum.
Expect continuation of the bullish trend if today’s breadth and sector leadership are maintained, but be prepared for a pullback.