The leadership pocket that had held together through weeks of orderly digestion broke down all at once this cycle — every name that carried a strong-up trend label last scan (NGKIF, ALAB, ONTO, SNDK, MXL) downgraded to weak-down, with ALAB and SNDK each losing more than a quarter of their value in a week. Five names now sit in a collapse or downtrend regime (LWLG, FN, CLS, PLAB, LPTH, plus POET and ALMU already there), and IBIDF's RSI cratered to 27.8 on a single sharp session — though its volume is thin enough that the print needs a grain of salt.

Data as-of 2026-07-17 close for the book. NGKIF carries a 2026-07-16 bar this cycle (a day behind, still effectively zero traded volume). Note for the record: last cycle's caution about COHR being rate-limited does not apply this time — COHR's read is fresh (2026-07-17). Prior scan: 2026-07-11-optical-supply-chain (data as-of 2026-07-10 close).

Last scan's Tier A — NGKIF, ALAB, ONTO, SNDK, MXL — was the one pocket of confirmed strength in the book, all carrying strong-up trend labels through weeks of cooldown. That structure gave way this cycle: every one of the five now reads weak-down. ALAB fell from $412.97 to $303.62, a -26.48% week that erased its "cooling but resilient" narrative and pushed its distance from its 52-week high out to -39.21% (was -17.32%). SNDK's repair story from earlier cycles fully round-tripped — RSI dropped from 52.1 to 38.8 and price fell -29.29% in a week, now -42.46% from its 52-week high. ONTO and MXL cooled in the same direction, both losing their strong-up trend labels. NGKIF's RSI reading swung from 69.7 to 29.5, but its volume is essentially nil (200 shares traded against a 195-share average) and its bar is a day stale — treat the number as noise, not signal. COHR, LPK.DE, and SDVKY-style deterioration also show up here: COHR's RSI fell to 33.0 with a -28.74% 30-day read, and LPK.DE's 30-day swung from -6.95% to -41.21%. On the constructive side, AEHR is the one clean improvement — RSI moved from 39.5 to 46.7 on an +11.64% weekly bounce, following through on last cycle's "wait for the 30-day trend to turn" flag. LAZR's data gap from last cycle is resolved: its close is now current (2026-07-17), though it still carries no RSI given its too-young regime.

• ALAB: RSI 55.0 → 38.8, trend downgraded strong-up → weak-down, price -26.48% for the week; -39.21% from 52-week high (was -17.32%).
• SNDK: RSI 52.1 → 38.8, price -29.29% for the week, 30-day flipped from +1.83% to -37.99%; -42.46% from high (was -18.62%).
• ONTO: RSI 52.7 → 43.6, trend downgraded strong-up → weak-down; -27.59% from high (was -16.82%).
• MXL: RSI 50.1 → 40.5, 30-day flipped from +12.59% to -19.06%; -44.01% from high (was -28.84%).
• CLS: RSI 48.5 → 34.4, regime newly tagged "collapse" (was unspecified/weak-down); -36.43% from high (was -24.09%).
• IBIDF: RSI 43.2 → 27.8, a single-day drop of -15.91% pushed it to the lowest RSI in the book besides the stale NGKIF print — volume is thin (700 shares vs. 1,359 average), so treat as a caution flag, not confirmation.
• LPK.DE: 30-day swung from -6.95% to -41.21%, one of the sharpest single-cycle deteriorations in the book; -51.14% from high (was -43.51%).
• AEHR: RSI 39.5 → 46.7, 7-day +11.64% (was -0.94%), distance from high improved to -35.99% (was -42.66%) — the flagged repair from last cycle followed through.
• POET: regime now tagged "downtrend" (was unlabeled beyond thesis-intact); RSI 38.2 → 36.1, -64.49% from high (was -60.07%) — thesis still rated intact despite the fresh regime downgrade.
• NGKIF: RSI 69.7 → 29.5 on a stale (2026-07-16), still effectively zero-volume bar — the swing looks dramatic but the underlying trade is illiquid on both reads.
• LAZR: data gap from last cycle resolved — close is now current (2026-07-17), though it remains in a too-young regime with no RSI.

Trend and regime labels describe chart structure, not a buy/sell call. The downgrade of the entire former-leadership pocket (NGKIF, ALAB, ONTO, SNDK, MXL) from strong-up to weak-down is the most structurally significant change in the book this cycle — it means the one pocket that had survived weeks of digestion finally gave way. "Collapse" or "downtrend" regime (LWLG, FN, CLS, PLAB, LPTH, POET, ALMU) means the structure itself is damaged; POET's thesis-intact rating doesn't offset that its regime just crossed into downtrend. NGKIF and IBIDF's extreme RSI reads both carry a volume caveat — thin or stale prints should be treated as noise until a fresh, liquid session confirms them.

Tier A — Former leadership, broken down this week (still golden-cross intact, now weak-down trend): NGKIF, ALAB, ONTO, SNDK, MXL. All five carried strong-up trend labels last cycle; all five downgraded together. ALAB and SNDK posted the steepest single-week price drops in the book.

Tier B — Broad digestion, structure intact (RSI 37-47, weak-down, pullback regime): AEHR, TSEM, KOPN, LITE, IQEPF, SMTC, FORM, FLTCF, HIMX, GLW, VIAV, AAOI, 6779.T, COHR, CIEN, JBL. This is most of the book — cooling further, not yet regime-damaged.

Tier C — Deeper damage, oversold pocket (RSI <34, pullback regime, no collapse tag yet): OPTX, AXTI, LPK.DE, SIVEF, SOI.PA, ALRIB.PA, MTSI, IBIDF. AXTI's -67.97% distance from high is now the deepest in the book outside the collapse tier.

Tier D — Structural avoid (regime collapse/downtrend): LWLG, FN, CLS, PLAB, LPTH (collapse); POET (downtrend, thesis intact), ALMU (downtrend).

Tier E — Data caveat: NGKIF (2026-07-16 bar, effectively zero volume), LAZR (fresh close but too-young regime, no RSI yet).

• Tape data (price/RSI/SMA/returns): full-scan pre-computed summaries as of the 2026-07-17 close — *.