# Monday Live Stream US Market Open: NVDA Earnings, Gold, SP500, Nasdaq, Bitcoin **Date:** 2026-08-24 **Source:** [YouTube](https://www.youtube.com/watch?v=MD3IJkQ6i-4) ## Main Thesis The market is waiting for two major catalysts this week, Nvidia earnings and the Jackson Hole symposium, while significant sector rotation occurs under the surface into energy, gold, and biotech. Many instruments that have seen strong rallies are now at key resistance levels, and the market is watching for potential Treasury intervention if bond market pressure continues. ## Charts & Technical Analysis ### 1. GDX vs Gold (Ratio) (None) **Bias:** BULLISH **Pattern:** long-term accumulation **Historical Comparison:** In the 2005-2006 period, gold miners were insanely overpriced. Atkinson notes that gold stocks (miners) have recently started to outperform gold itself. This brings into question a long-term accumulation pattern. He contrasts this with the 2005-2006 period when miners were very overpriced relative to gold. ### 2. Cosby futures (None) **Bias:** BEARISH **Pattern:** dead cap bounce (DCB) Represents the hardware sector, which was down on the day. Atkinson notes it's moving between 4-10% per day but not breaking boundaries. He later discusses how after such a large drop, the resulting bounce is often a 'dead cat bounce' and that other sectors tend to perform better during this period. ### 3. NVDA (daily) **Bias:** NEUTRAL **Pattern:** potential double bottom **Key Levels:** 200 support, 228 resistance Nvidia earnings are a key event for the week. The chart shows a potential double bottom pattern, having pulled back to an anchored VWAP and the 20 daily moving average. The options market is expecting a 6+% move, which would target the psychological level of 200 on the downside or the previous high of 228 on the upside. ### 4. Apple (None) **Bias:** BEARISH **Pattern:** rejection Mentioned as part of the 'mags' review. Atkinson describes it as 'not a very strong looking chart' with a 'bit of a rejection'. ### 5. Amazon (None) **Bias:** NEUTRAL Described as 'meh' and looking like it's at a resistance stage. ### 6. Google (None) **Bias:** NEUTRAL **Key Levels:** 360 resistance, 370 resistance Atkinson states he doesn't think it knows what it wants to do, noting 'tons of rejections around 360 to 370'. ### 7. Microsoft (None) **Bias:** NEUTRAL **Pattern:** pit He notes that Microsoft 'looked really good' after a change of trend, rallied up, and is now 'kind of hitting that pit level'. ### 8. Meta (None) **Bias:** BEARISH Atkinson questions if anyone thinks the chart looks good if they are a bull, implying it has a poor technical structure. ### 9. US Treasuries (None) **Bias:** BEARISH **Historical Comparison:** similar to before 2007 where central banking got involved to support the market The Treasury is intervening to prevent 30-year lows, showing a pain point. China is dumping treasuries at an accelerated rate. Atkinson believes the announced intervention of 2-4 billion is not enough and expects the market to pressure them for a stronger response. He is setting alerts below the lowest low. ### 10. JP10Y (Japanese 10-Year Yield) (None) **Bias:** BULLISH The Japanese 10-year yield is continuing to go up and is currently at 'equal highs'. ### 11. JP02Y (Japanese 2-Year Yield) (monthly) **Bias:** BULLISH The Japanese 2-year yield is accelerating, which puts pressure on the carry trade. Atkinson shows a monthly chart to highlight the steepness of the acceleration, which he notes is not slowing down. ### 12. US 10-Year Yield (None) **Bias:** BULLISH **Key Levels:** 4.75% Described as one of the most important yield levels, it is sitting around 4.75% and getting closer to its high. ### 13. US Oil (None) **Bias:** NEUTRAL Noted as being down 2% on the day, but the main focus in the energy space is on diesel. ### 14. Diesel / Crack Spread (None) **Bias:** BULLISH Atkinson highlights the discrepancy and new all-time highs for diesel. The 'crack' spread was up significantly on Friday and again on the day of the stream. He states it has 'been on fire since June' and is a key market mover. ### 15. TAN (Solar ETF) (None) **Bias:** NEUTRAL Atkinson notes there were strange trades and a huge, unusual volume spike in TAN, calling it the 'largest transaction... ever to go through for this'. Despite this, he thinks the chart looks 'frankly quite trash right now' but is watching it due to the institutional volume. ### 16. Uranium (None) **Bias:** BULLISH This sector has 'picked up' and has 'shown some signs of improvement', though it remains a very volatile market sector. ### 17. PBW (Clean Energy ETF) (None) **Bias:** NEUTRAL Mentioned as a sector to watch due to the narrative that energy is the bottleneck for AI. ### 18. Gold (monthly) **Bias:** BULLISH **Pattern:** pit **Key Levels:** 4100 support, 4850 resistance Gold had a 'really good pit' (pullback in time) and is seeing huge interest from central banks like Poland and China. It is approaching its most traded volume node, which acts as resistance. A close above 4850 would be positive. The monthly chart is described as 'encouraging'. ### 19. Silver (monthly) **Bias:** BULLISH **Key Levels:** 70 resistance Silver is 'slamming straight into that 70 level', which is a previous resistance/supply area. Like gold, it has had good technical reads and is approaching a key volume node. The monthly chart is also encouraging. ### 20. Copper (weekly) **Bias:** NEUTRAL **Pattern:** long-legged doji **Key Levels:** 635 support The chart is showing signs of indecision with 'long-legged doji' candles near the highs. However, the prevailing trend is still a series of higher highs and higher lows. A weekly close below 635 would be a bad sign. ### 21. Bitcoin (weekly) **Bias:** BULLISH **Pattern:** thrust **Key Levels:** 78,000 resistance Bitcoin went 'wild last week', moving straight into the 78,000 resistance node. The key observation is the weekly 'thrust' candle, a 23-25% move, which historically tends to mean more upside. It is now at technical resistance, and Atkinson would like to see a 'pit' (consolidation/pullback). ### 22. Ethereum (None) **Bias:** BULLISH Mentioned as being just slightly above its key resistance level. ### 23. Solana (None) **Bias:** BULLISH Noted as hitting key resistance levels, which is 'no coincidence'. ### 24. US 500 (None) **Bias:** NEUTRAL **Key Levels:** 7800, 7600 support, 7500 support The S&P 500 is at a critical level around 7800. It has pulled back to VWAP levels and doesn't look 'particularly terrible'. Key put option levels are at 7600 and 7500, which are potential pullback targets. ### 25. Nasdaq 100 (QQQ) (None) **Bias:** NEUTRAL **Key Levels:** 700 support, 705 support The key area of interest is between 700 and 705. He notes that 700 is the 'net put support' level (most puts for all expirations) and 705 is where this week's puts mostly sit. ### 26. Utilities (None) **Bias:** BEARISH Described as 'horrendous' and having 'went down'. The chart 'looks pretty bad'. ### 27. Biotech (None) **Bias:** BULLISH Noted as a top-performing sector, helped by a big session in Moderna. The sector has been moving up since June. ### 28. Software (None) **Bias:** NEUTRAL Atkinson feels like the software sector is 'sitting' and 'stagnating' after its initial quick thrust move. ### 29. MOO (Agriculture ETF) (weekly) **Bias:** BULLISH The agriculture ETF made a new high last week. After a period of consolidation, it is now 'back to getting aggressive'. ### 30. Oracle (weekly) **Bias:** BEARISH The chart looks 'frankly confusing'. It hit the weekly 20 moving average for a mean reversion, which is 'not a great sign'. It is also at the 200 weekly moving average, which is a 'point of decision'. ### 31. McDonald's (weekly) **Bias:** NEUTRAL **Pattern:** bullish hammer The weekly chart is 'sitting nice' with a 'bullish hammer' candle, but it's inside a lot of indecision. It is still consolidating in a range. ### 32. Palantir (None) **Bias:** NEUTRAL **Pattern:** pit After a 40% move up, it is now in a 'pit', which is a tight consolidation range. Atkinson expects it may consolidate for quite some time after such a large move. ### 33. Coca-Cola (None) **Bias:** BULLISH Described as the 'epitome of boring' but in a good way. It's in a very steady series of higher highs and higher lows, making it a 'very very good' but dull chart. ### 34. Nike (monthly) **Bias:** NEUTRAL Nike has been a 'disaster' and is 'horrendous', just falling continuously. However, it has reached an area of 'significant interest' for Atkinson because 'everyone hates it' and it's at a decent volume node. He is watching for signs of a bottom but says they 'have not done much yet'. ### 35. CCJ (None) **Bias:** BULLISH Mentioned as a uranium stock that looks the same as the general uranium sector chart, which is showing improvement. ## Regime / Cycle Analysis There is a significant focus on intermarket dynamics and sector rotation. Rising Japanese yields are pressuring the carry trade, potentially forcing sales of US Treasuries, which are also being sold by China. This pressure is leading to talk of Treasury intervention. A key theme is the rotation of capital out of the recently hot hardware/tech sector and into areas like energy (specifically diesel/crack spread), gold, and biotech. The simultaneous rallies in Gold, Silver, and Bitcoin are framed as a narrative of 'concern over treasuries'. Atkinson emphasizes that the lack of panic in the bond market ('if bonds don't go, there's no fear') has so far contained broader equity market fear. ## Key Calls & Predictions - The two most important catalysts for the week are Nvidia earnings and the Jackson Hole symposium. - Nvidia's options market is pricing a 6+% move, with key levels at 200 on the downside and 228 on the upside. - A break of the lows in US Treasuries is a key level to watch, as it would likely trigger a strong intervention or announcement from the Treasury. - The Nasdaq 100 (QQQ) has critical put support in the 700-705 zone. - A massive, historically large volume spike in the solar ETF (TAN) puts it on watch for a potential reversal, despite a currently poor chart structure. - Assets that have seen strong upward thrusts, like Bitcoin, are now at resistance and a 'pit' (consolidation or shallow pullback) would be a healthy next step. ## All Instruments Mentioned GDX, Gold, Cosby futures, NVDA, Apple, Amazon, Google, Microsoft, Meta, US Treasuries, JP10Y, JP02Y, US 10-Year Yield, US Oil, Diesel, Crack Spread, TAN, Uranium, PBW, Silver, Copper, Bitcoin, Ethereum, Solana, US 500, Nasdaq 100, Utilities, Biotech, Software, MOO, Oracle, McDonald's, Palantir, Coca-Cola, Nike, CCJ, TJX --- *Generated by FX Evolution Monitor on 2026-08-27 23:04:09*