The collapse pocket, which had cleared to zero for two straight cycles, reopened to five names this week — FN, CLS, PLAB, LWLG, and ALMU — as RSI cooled 5 to 21 points across nearly all 37 names in the book. But four of those five are still up sharply over the trailing year and mostly still above their 200-day averages; this reads as a sharp, book-wide pullback inside mostly-intact longer trends, not a structural breakdown. ALMU, negative on the year and rated no-view, is the one collapse name where the tag looks earned rather than noisy.

Data as-of the 2026-08-21 close for the full 37-name book — every symbol carries a same-day bar this cycle, though several thin/foreign names (SOI.PA, NGKIF, ALRIB.PA, LPK.DE, 6779.T, IBIDF) still route through yfinance rather than Schwab. No 2026-08-21-dated scan exists for this lane; the comparison baseline below is the August 14 scan.

This is a book-wide cooldown, not a name-by-name story: every one of the 37 names in this book saw its RSI fall this cycle, most by 5 to 15 points, several by considerably more — AEHR's RSI dropped from 67.5 to 49.0 on a -24.14% weekly return, IBIDF's fell from 71.6 to 50.5, and JBL's from 61.4 to 41.0. Five names now carry a fresh collapse regime tag: FN (RSI 39.1, a fresh death-cross with price 18.8% below its 200-day), CLS (RSI 41.0, back in collapse one cycle after repairing out of it), PLAB (RSI 44.2, also a fresh death-cross), LWLG (RSI 41.5), and ALMU (RSI 39.4, thesis rated no-view). That's a real structural reversal from the two straight clean cycles this book had shown. But the long-horizon numbers tell a more nuanced story for four of the five: FN is still up 57.62% over the trailing year, CLS is up 63.53% and remains golden-cross despite trading under its 200-day today, PLAB is up 46.05%, and LWLG is up a striking 180.09% with a strongly positive alpha1y of 158.28 — all four read as violent pullbacks inside trends that are still intact on a 12-month view, not breakdowns. ALMU is the exception: its trailing year is actually negative (-23.43%), it sits 17% below its 200-day, and its thesis carries a no-view rating — the collapse tag there looks earned rather than noisy.

Two names deserve a volume caveat before their prints mean anything. IBIDF's RSI fell from 71.6 to 50.5 this cycle, but it again traded zero shares — the same caveat this name carried the prior cycle, now stretching to a third straight period of unconfirmed pricing. NGKIF, now the lowest RSI in the book at 25.4 (down from 41.3), did print real volume this time — 300 shares against a 40-share average, a 7.5x relative-volume spike — but the absolute size is still thin enough to treat cautiously. Notably, NGKIF's own longer-horizon numbers argue against reading its RSI as a breakdown: it's still up 108.82% over the trailing year and sits 9% above its 200-day, which makes this look more like an oversold pullback inside an intact trend than a broken thesis.

AEHR's -24.14% weekly return is the sharpest single-week move in the book, and on its own it would read as alarming. But AEHR is still up 8.76% on the month, 476.05% over the trailing year, and sits 70.6% above its 200-day — this is a textbook violent-pullback-inside-a-secular-uptrend setup rather than damage to the underlying trend. KOPN remains the strongest confirmed name in the book on RSI (58.3, still the highest reading despite cooling from 66.1), with a 188% trailing-year gain and price 49.9% above its 200-day.

• Collapse pocket reopened from zero to five: FN, CLS (re-collapse after last cycle's repair), PLAB, LWLG, ALMU — up from zero collapse-tagged names for two straight cycles.
• FN: RSI 58.9 → 39.1, the sharpest RSI drop in the book (-19.8); fresh death-cross; 30-day widened to -14.99%; still +57.62% over the trailing year.
• JBL: RSI 61.4 → 41.0 (-20.4); 30-day narrowed only slightly to -1.6%.
• AEHR: RSI 67.5 → 49.0 (-18.5); 7-day flipped to -24.14%, the sharpest weekly move in the book; 30-day still +8.76%; 1-year +476.05%.
• IBIDF: RSI 71.6 → 50.5 (-21.1); zero shares traded for a third straight cycle — still unconfirmed pricing.
• NGKIF: RSI 41.3 → 25.4, now the lowest in the book; this cycle printed real (if thin) volume at 7.5x average, unlike the two prior zero-volume cycles; 1-year still +108.82%.
• CLS: RSI 49.5 → 41.0; regime downgraded back to collapse one cycle after repairing out of it.
• SNDK: RSI 57.0 → 53.7, the smallest RSI drop in the book; 30-day flipped back to -0.2% (was +1.62%).
• KOPN: RSI 66.1 → 58.3; still the highest reading in the book despite the cooling; 30-day still +34.4%.
• ALMU: RSI 54.1 → 39.4; regime dropped to collapse; thesis rated no-view; the one collapse name also negative on the trailing year (-23.43%).

Regime labels describe chart structure, not a buy/sell call, and this cycle is the clearest case yet for reading them alongside the trailing-year numbers before calling anything a breakdown. FN, CLS, PLAB, and LWLG all just earned a collapse tag, but three of the four are still up 46% to 180% over the trailing year and the fourth (CLS) remains golden-cross on its longer moving averages even while trading under its 200-day today — that combination reads as a deep, sharp pullback inside a trend that hasn't actually broken, not the start of a new downtrend. ALMU is the one name in that group where the annual number agrees with the short-term tag: negative on the year, below its 200-day, thesis rated no-view. IBIDF's zero-volume print for a third straight cycle means its RSI number still can't be trusted either direction. NGKIF's real (if thin) volume this cycle is a meaningful upgrade in data quality even as its RSI hit a fresh low for the book.

Tier A — RSI 50+, confirmed strength (7): KOPN, LPTH, SNDK, LITE, OPTX, IBIDF (unconfirmed — zero volume), IQEPF.

Tier B — Mid-book, RSI 45-50 (15): AXTI, AAOI, AEHR, ONTO, LAZR, POET, FORM, HIMX, SIVEF, VIAV, CIEN, SOI.PA, SMTC, FLTCF, COHR.

Tier C — Cooling, RSI 40-45 (10): TSEM, 6779.T, PLAB (collapse), GLW, MXL, MTSI, LWLG (collapse), CLS (collapse), JBL, ALAB.

Tier D — Weakest, RSI <40 (5): ALMU (collapse, thesis no-view, negative 1y), FN (collapse, death-cross), ALRIB.PA, LPK.DE, NGKIF (lowest RSI, thin volume).

• Tape data (price/RSI/SMA/returns/1-year, SMA200): full-scan pre-computed summaries as of the 2026-08-21 close — optical-supply-chain.