Data as-of 2026-07-10 close (IONQ lags one day at 07-09). The biggest change is a genuine de-risking in AI security: PANW's regime flag has flipped back from parabolic to uptrend — RSI fell from 80.2 to 58.6 and its extension above VWAP shrank from +83.2% to +65.2%, with FTNT and CRWD cooling alongside it. The other real break is Bloom Energy (BE), which just had an -18.9% week and moved from "hold, very extended" to genuinely damaged (52-week gap widened from -16.0% to -30.4%). On the positive side, META staged the biggest reversal in the scan — +14.0% on the week, crossing back above its VWAP for the first time in this scan's history — and NVDA had a strong week (RSI 42.3→57.2). Memory/storage (MU/STX/WDC) is stabilizing after last scan's sharp weekly declines, while the quantum bucket (IONQ/QBTS/RGTI/SOUN/BBAI) continues to roll over hard across the board.

FROTH READ: pricePctVsVwap is the key signal — names >50% above VWAP are extended/parabolic relative to their average buyer's cost basis.

The AI-complex froth story has genuinely changed shape since the last scan. Two weeks ago, AI security was the hottest pocket on the board with PANW literally flagged parabolic by the system (RSI 80.2, +83.2% above VWAP). That's now unwound: PANW's regime reverted to uptrend, RSI fell to 58.6, and its extension shrank to +65.2% above VWAP — a real, measurable cooldown rather than just a pause. FTNT and CRWD cooled alongside it (both had sharp down weeks, -2.9% and -9.9% respectively), confirming this is a sector-wide unwind, not a single-name story.

The flip side is Bloom Energy (BE), which was flagged as "very extended, hold only" two weeks ago and just had a genuinely bad week — down 18.9% in seven days, with its 52-week gap widening from -16.0% to -30.4% and its extension above VWAP shrinking from +111.8% to +70.7%. This is the clearest example on the board of an extended name actually cracking rather than just digesting.

On the constructive side, META had the single best week in the scan: +14.0% over seven days (including a +6.0% single day on 2.1x relative volume), crossing back above its VWAP for the first time since this scan began tracking it, with its 52-week gap narrowing from -24.6% to -16.0%. NVDA also had a strong week (RSI 42.3→57.2, +7.3% 7D), and the system's own thesis flag marks NVDA "intact." Memory and storage (MU/STX/WDC) — last scan's biggest digestion story after 85-160% three-month runs — appears to be stabilizing: STX and WDC both had positive weeks after the prior scan's 7-12% weekly declines.

The clearest deterioration is in the quantum/speculative bucket. IONQ, QBTS, RGTI, SOUN, and BBAI all had worse weeks than two weeks ago — QBTS and RGTI both down double digits on the week, and BBAI's RSI fell to 33.7, edging toward capitulation. Telecom (T, BCE, VZ, SKM) went the other direction, bouncing broadly off deeply oversold levels from two weeks ago into the high-30s/40s RSI range.

1. AI security de-risked, no longer the froth leader: PANW's regime flipped from parabolic to uptrend (RSI 80.2→58.6, vwap% +83.2%→+65.2%); FTNT (RSI 71.4→60.0) and CRWD (RSI 74.5→57.2) both cooled meaningfully alongside it.
2. BE broke down: -18.9% in 7 days (was +16.4% 30D two weeks ago, now -1.7%); 52-week gap widened from -16.0% to -30.4%; extension above VWAP shrank from +111.8% to +70.7%. The most extended name from the last scan just cracked.
3. META staged the biggest reversal in the scan: +14.0% 7D, crossed back above VWAP (-8.3%→+2.4%), 52-week gap narrowed from -24.6% to -16.0% — still death-crossed on the trend flag, but the clearest positive change on the board.
4. Memory/storage stabilized: STX and WDC both had positive weeks (+4.0% and -1.7%, vs -9.9%/-11.9% the prior period), though extension above VWAP is still 100%+ across the cluster.
5. INTC cooled hard from extreme parabolic: 3M% eased from +131.0% to +68.5%, vwap% from +115.1% to +89.4% — genuine de-risking, though the week itself was rough (-13.2% 7D).
6. Quantum bucket deteriorated across the board: IONQ, QBTS, RGTI, SOUN, BBAI all worse on 7D/30D/vs-VWAP than two weeks ago — QBTS -13.9% 7D, RGTI -10.7% 7D.
7. Telecom bounced off deep oversold: T (RSI 28.4→40.8) and BCE (RSI 26.2→34.9) both recovered from "falling knife" territory into the high-30s/40s, alongside VZ and SKM.
8. Data-center REITs' oversold call played out: EQIX (RSI 31.5→49.1) and DLR (RSI 34.3→45.1) both bounced meaningfully from the "approaching oversold" flag two weeks ago.

Read: The memory/storage cluster's weekly declines from two weeks ago (-7% to -12%) have largely reversed — STX and WDC both had flat-to-positive weeks. Still 100%+ above VWAP across the cluster, so this is stabilization, not a new leg up.

Read: This is the headline change in the scan. PANW's regime literally flipped back from parabolic to uptrend — a real, system-confirmed de-risking, not just a pause. FTNT and CRWD both had rough weeks (-2.9% and -9.9%) that pulled their RSI down from the low-70s to the high-50s/low-60s. Security has gone from "the new froth leader" to "cooling off" in two weeks.

Read: EQIX and DLR both delivered on the "approaching oversold" call from two weeks ago — real bounces, RSI back into the high-40s. PLTR is the disappointment here: its earlier-week bounce reversed (-3.08% 7D, vwap% worsened to -19.84% from -16.18%) even though the system's own thesis flag still reads "intact" — the tape and the flag disagree, worth a fresh look rather than trusting the flag at face value. WDAY's 30-day change flipped positive (-4.0%→+6.5%) for the first real improvement in a while, though it's still death-crossed. AI (C3.ai) continues to deteriorate the fastest in this group (-20.6% 30D).

Read: BE is the biggest single deterioration in this scan — an -18.9% week that turned a "very extended, hold only" call into genuine damage. EOSE is edging into capitulation (RSI 29.6, -18.25% on the week). SMR remains the single most destroyed name in the entire 66-ticker universe at -84.3% off its high.

Read: The whole speculative bucket rolled over this period — every one of the five names is worse on 7D, 30D, and vs-VWAP than two weeks ago.

Read: The whole telecom bucket bounced this period — T and BCE specifically moved out of "falling knife" territory (RSI 26-28 two weeks ago) into the high-30s/low-40s, though both remain in confirmed downtrends with death crosses.

AMD (+125.1% vwap), WDC (+122.0%), MU (+102.3%), STX (+114.9%), INTC (+89.4%), FTNT (+70.7%), BE (+70.7%), PANW (+65.2%), CRWD (+53.2%), ARM (+61.7%), MRVL (+56.7%). All cooled somewhat from two weeks ago but remain historically extended — hold existing gains, do not add new money.

• NVDA (RSI 57.2, +12.3% vs VWAP) — strong week, thesis flagged intact by the system.
• AVGO (RSI 53.7, +13.4% vs VWAP) — near fair value, thesis intact.
• AMZN (RSI 51.0, +6.0% vs VWAP) — steady, thesis intact.
• EQIX (RSI 49.1) and DLR (RSI 45.1) — both delivered a real bounce off the "approaching oversold" call from two weeks ago.
• T (RSI 40.8) and BCE (RSI 34.9) — recovered from falling-knife territory but still in confirmed downtrends — watch-only, not entries.

MSFT, CRM, ADBE, NOW, WDAY (carried), PLTR, ZS, AI, CEG, OKLO, SMR, EOSE, RUN, TMUS — all below or well below VWAP in confirmed downtrend/collapse regimes. SMR (-84.3% off high) is the single worst name in the scan; EOSE (RSI 29.6) is the closest to outright capitulation.

• Whether PANW/FTNT/CRWD's cooldown in security is a healthy reset or the start of a real correction now that the parabolic flag is gone.
• Whether BE's -18.9% week is a one-off flush or the start of a real unwind of its 3M +38% run.
• Whether META's VWAP-crossing rally has legs or reverses back below fair value.
• EOSE's RSI 29.6 print — watch for either a capitulation bounce or a break to new lows.
• Whether the quantum bucket's broad deterioration (IONQ/QBTS/RGTI/SOUN/BBAI) stabilizes or keeps compounding.