Midday Wave #142: Small Caps Surge As Tech Drops – Thursday 10/29/2026
A rotation day on October 29: breadth exploded higher with 40SMA at 58.2% and small caps leading as IWM gained 1.20%, while the Nasdaq-100 broke below key moving averages down 1.35%. FCN stole the show with a 10.3% continuation move, and medical names ICLR and LH flashed institutional volume confirmation.
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