# Wall Street Does It Again...
**Date:** 2026-08-27  
**Source:** [YouTube](https://www.youtube.com/watch?v=ZJjuYLZ25ak)

## Main Thesis
Nvidia's strong earnings and related AI announcements are driving market narratives and demonstrating classic Wall Street manipulation, while the broader indices remain trapped in a sideways, sector-rotation-style market.

## Charts & Technical Analysis

### 1. Nvidia (NVDA) (2 hours)

**Bias:** NEUTRAL
**Pattern:** Post-earnings dump and ramp
**Key Levels:** 230 call wall, 200 put support

Atkinson describes the post-earnings price action as a classic Wall Street dump and ramp. The stock initially fell, getting close to the 200 put support, then rallied to make a higher high. He notes this is not a bad sign for the stock but a move that catches many traders off guard. The options market had expected a 6.2% move, and it closed up around 5.6% after the large swings.

### 2. Salesforce (CRM) (daily)

**Bias:** BULLISH
**Pattern:** Breakout
**Key Levels:** 260 resistance

Following a deal with Anthropic, Salesforce pushed up almost 14% in after-hours trading. Atkinson notes the stock had already started to look healthier on the charts, having previously put pressure on supply, dropped to create liquidity, and then moved up to the first level of resistance, with some looking at the 260 level.

### 3. Gold (daily)

**Bias:** NEUTRAL
**Pattern:** Consolidation at resistance / Pullback in time

Gold has seen real inflows and has hit a resistance/supply level where large transactions are now appearing, similar to the dark pools seen at the bottom. The market is currently consolidating sideways, which Atkinson views as a constructive 'pullback in time until proven otherwise'.

### 4. Bitcoin (BTC) (weekly)

**Bias:** CAUTIOUSLY BULLISH
**Pattern:** Thrust off a base, now consolidating
**Historical Comparison:** Notes that large thrusting moves can be either the end of a rally or the beginning. Because this is coming off a base, it's 'a little bit more promising'.

Bitcoin had a great weekly percentage change, showing a lot of thrust. It's now 'taking a chill' and consolidating, which he does not see as bearish. He notes that huge flows have come into BTC in the last couple of days, but it has not yet closed above the recent high. He considers it promising but still early days.

### 5. Micron (MU) (daily)

**Bias:** NEUTRAL
**Pattern:** Floating sideways

Micron is described as 'just kind of floating around'. Even with the strong Nvidia news, it and other semiconductors have not yet taken out their higher highs.

### 6. Semiconductors (daily)

**Bias:** NEUTRAL
**Pattern:** Potential inverse head and shoulders, currently in a choppy range
**Key Levels:** 600 neckline
**Historical Comparison:** In previous history of falls in semiconductors, it tends to do a lot of chopping for a little while.

Many are seeing a potential inverse head and shoulders pattern with a neckline at 600. The sector is currently in a choppy 'kangaroo' market. He notes that while it's holding a key fib level, which is good for bulls, it could continue to chop sideways based on historical precedent.

### 7. Copper (daily)

**Bias:** BEARISH
**Pattern:** Failed to make a higher high

Copper sold off over the last 24 hours and has been unable to make a new higher high.

### 8. Silver (daily)

**Bias:** NEUTRAL
**Pattern:** Pullback in time at resistance

Silver is at a resistance/supply level and is currently in a 'pullback in time', moving sideways after reaching a new equilibrium level.

### 9. Platinum (daily)

**Bias:** BEARISH
**Pattern:** Selling off

Platinum has been selling off over the last couple of sessions. Atkinson notes that platinum tends to move after gold and silver.

### 10. Japanese 1-Year Yield (JP01Y) (daily)

**Bias:** BEARISH
**Pattern:** Accelerating higher

The Japanese 1-year yield is continuously rising, showing acceleration. This is putting extreme pressure on the Bank of Japan and the carry trade, suggesting the BoJ may need to raise rates, which would impact global liquidity. He calls it a key storyline to watch.

### 11. US 10-Year Yield (daily)

**Bias:** NEUTRAL
**Key Levels:** 4.75

Atkinson states that if the US 10-year yield reaches 4.75, he will be paying attention.

### 12. Treasuries (daily)

**Bias:** NEUTRAL
**Pattern:** Made a little bit of a higher high

Treasuries have made a slight higher high. He notes that while there are many working parts in bonds, they haven't done anything particularly worrying for the last 6-12 months.

### 13. US Dollar (daily)

**Bias:** NEUTRAL
**Pattern:** Stuck in the middle of the range

The US Dollar is neutral and stuck in the middle of its trading range.

### 14. UK Oil / US Oil (daily)

**Bias:** NEUTRAL
**Pattern:** Sitting on support

Both UK and US oil are currently sitting on support levels.

### 15. Energy (sector) (daily)

**Bias:** NEUTRAL
**Pattern:** Bounced off support
**Key Levels:** 20-day moving average support

The energy sector had a decent session, rising 0.6% after coming down to and bouncing from the 'all-important 20-day moving average' support level.

### 16. Crack (Spread) (daily)

**Bias:** NEUTRAL
**Pattern:** Found support
**Key Levels:** 20 support

The crack spread came down and found support around the 20 level (likely the 20-day moving average).

### 17. QQQ (daily)

**Bias:** NEUTRAL
**Pattern:** Sideways
**Key Levels:** 700-705 support

The QQQ is trading at 717 post-Nvidia but remains in a sideways pattern. The options market is trying to support the 700-705 level. Atkinson states that the best money has been made in sector rotations, not the indices.

### 18. Solana (daily)

**Bias:** NEUTRAL
**Pattern:** Consolidating in a range above resistance
**Historical Comparison:** Looks very similar to Ethereum.

Solana is trapped in a small range, consolidating ('pitting') just above a former resistance level. Its price action is very similar to Ethereum's.

### 19. Ethereum (daily)

**Bias:** NEUTRAL
**Pattern:** Consolidating above resistance

Similar to Solana, Ethereum is consolidating ('pitting') just above a former resistance level.

### 20. S&P (SPX) (daily)

**Bias:** NEUTRAL
**Pattern:** Sitting on the anchored VWAP

The S&P 500 is sitting on the anchored VWAP with no significant changes to its structure.

### 21. US 500 futures (daily)

**Bias:** NEUTRAL
**Pattern:** Sitting around the anchored VWAP

The US 500 futures are sitting around the anchored VWAP. A major put support level was mentioned at 7,500, but this is a likely transcription error.

## Regime / Cycle Analysis
The market is described as a 'sector rotation-style market' where indices are largely sideways and the best opportunities are in rotating between sectors. There is a discussion of mid-term election year seasonality, which suggests the potential for pullbacks and volatility into October. Macro concerns include PCE data showing the 'bottom end of the K-shaped economy is actually starting to rear its ugly head' due to consumer debt exhaustion. A key background risk is the rising Japanese bond yields, which could pressure global liquidity. Additionally, big AI companies are now using debt instead of cash, causing credit default swaps to rise and creating potential stress on debt systems, especially if earnings top out.

## Key Calls & Predictions
- Expecting pullbacks around this time based on mid-term election year seasonality.
- The market is a sector rotation market; the best opportunities are in sectors, not the broad indices.
- Warning that rising Japanese bond yields are a key background risk to watch for its impact on global liquidity.
- Warning that AI companies taking on debt at high rates could become a 'big problem' for the debt system if earnings peak.
- Pay attention to Fed Chair Powell's speech at Jackson Hole on Friday at 10:00 a.m. New York time for any potential policy shifts.

## All Instruments Mentioned
Nvidia, Salesforce (CRM), Microsoft, Cloudflare, SpaceX, Gold, Gold Stocks, Silver, Bitcoin (BTC), VIX, Iron, Marvel (MRVL), Micron (MU), Semiconductors, Copper, Platinum, Palladium, Japanese bonds / yields, Japanese yen, US 10-year, Treasuries, US Dollar, UK Oil, US Oil, Energy (sector), Crack (Spread), QQQ, Solana, Ethereum, S&P, US 500 futures

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*Generated by FX Evolution Monitor on 2026-08-27 23:01:06*