# YOU Won't Believe What Wall Street Are Doing Now... **Date:** 2026-08-28 **Source:** [YouTube](https://www.youtube.com/watch?v=_59VxR1IgrY) ## Main Thesis The market is exhibiting unusual behavior with tech stocks rallying while other sectors fall, a characteristic of a "kangaroo" midterm election year. With a new Fed Chair's first Jackson Hole speech imminent, traders should practice patience and react to price action, as Wall Street is creating new products and significant inflows are being seen in assets like Bitcoin. ## Charts & Technical Analysis ### 1. Bitcoin (daily) **Bias:** NEUTRAL **Pattern:** grinding at resistance **Key Levels:** 82,000 resistance Bitcoin has seen eight consecutive days of large positive inflows, sparking talk of cycle theory. However, the price is currently grinding around the all-important 82,000 resistance level and has not broken out yet. The price action is described as 'dull' and just slowly moving up. ### 2. Tech Sector (daily) **Bias:** BULLISH The tech sector showed unusual strength, gaining over 3% while all other major sectors closed lower. This move was driven by Nvidia and software stocks. ### 3. S&P 500 (daily) **Bias:** NEUTRAL **Pattern:** kangaroo market **Key Levels:** 7500 support, put support (zero DTE) **Historical Comparison:** The current market is most closely correlated to 1978, which would imply weakness into the midterms followed by strength. 2007 is also mentioned as a possibility. The S&P 500 is described as 'kangarooing' at this point, with most interest in sector rotation. It came down to an anchored VWAP and is sitting on zero DTE put support. A more serious support level with trade volume is noted around 7500. If it breaks below key support levels, bears would look for a Wyckoff pattern. ### 4. IGV (Software ETF) (daily) **Bias:** BULLISH IGV was up 7% in the last 24 hours, driven by news from Salesforce and Anthropic which provided a use case for AI in software. This represents a narrative shift, as the market had previously 'dumped software as a service' and is now re-attaching the AI story to it. ### 5. Energy Stocks (daily) **Bias:** NEUTRAL **Pattern:** testing support **Key Levels:** daily 20 moving average support **Historical Comparison:** Reminiscent of how oil services stocks moved in October-November of the previous year before the broader energy sector did. Energy stocks have pulled back to the daily 20 moving average, which has held as support twice before. This is the third test, making it an important level for bulls to hold. ### 6. Solar/Clean Energy (None) **Bias:** BULLISH Solar and clean energy are starting to pick up, with a narrative re-emerging that the real bottleneck for AI might be energy. ### 7. Gold (None) **Bias:** NEUTRAL **Pattern:** range-bound, kangaroo market **Key Levels:** 4700 resistance **Historical Comparison:** Seasonality for August is typically strong for Gold, which also aligns with midterm year patterns. Gold has been picking up, consistent with August seasonality. It slammed into the 4700 resistance level and is now in a 'pullback in time', consolidating sideways. The seasonality chart suggests a very range-bound, up-and-down market. ### 8. Nvidia (NVDA) (intraday) **Bias:** NEUTRAL **Pattern:** liquidity hunt and reversal **Key Levels:** 200 support (put level), 230 resistance (call level) Presented as a classic case of 'patience, react, don't predict'. The stock dropped before earnings to hunt liquidity, falling almost to the 200 put support level, then reversed and rallied directly into the 230 call resistance level, demonstrating how markets move between option-defined equilibrium points. ### 9. BUG (Cybersecurity ETF) (daily) **Bias:** BULLISH **Pattern:** higher highs and higher lows Cybersecurity has been improving for a while, making a series of higher highs and higher lows. It experienced a big thrust recently, catalyzed by the Salesforce/Anthropic news. ### 10. Salesforce (CRM) (daily) **Bias:** BULLISH **Pattern:** higher highs and higher lows **Key Levels:** approaching technical resistance The stock had a wild move, opening up 10% and closing up 22.5%. This was on the back of the Anthropic AI news. The chart was already making a series of higher highs and higher lows coming into the announcement and is now approaching a technical resistance level. ### 11. Adobe (ADBE) (None) **Bias:** BEARISH Adobe benefited from a knock-on effect of the software rally. However, the host notes that the stock is 'down this much for no reason' and that the market has long-term concerns about it. ### 12. Microsoft (MSFT) (None) **Bias:** BULLISH **Pattern:** breakout **Key Levels:** resistance Microsoft was the initial catalyst for the software rally a few weeks ago. Price action improved before its good earnings, it moved to resistance, and then broke through, leading to a broadening of the rally across the sector. ### 13. KOSPI (None) **Bias:** NEUTRAL **Pattern:** kangaroo market **Key Levels:** resistance The South Korean market is in an 'up down up down kangaroo' pattern, which is typical after a massive drop. It is still struggling and has not achieved a close above resistance. ### 14. Semiconductors (None) **Bias:** NEUTRAL **Pattern:** island reversal **Key Levels:** Fibonacci or VWAP support Semiconductors gapped up after gapping down, which some may interpret as an island reversal pattern after a pullback to a key support like a Fibonacci level or a VWAP. These are considered 'very critical zones' for the hardware sector, which is the 'backbone' of the AI run. ### 15. Copper (weekly) **Bias:** NEUTRAL **Key Levels:** resistance from weekly dojis Copper had a good 24 hours, rallying back up. The weekly close will be important to see if it can get above the recent doji candles, which are acting as resistance. Metals in general have performed well, running into technical resistance levels. ### 16. Ethereum (ETH) (None) **Bias:** NEUTRAL **Pattern:** sideways consolidation **Key Levels:** previous resistance Ethereum is trading slightly above a previous resistance level but is now just moving sideways. It's unclear if this level will act as a new pivot or become resistance again. The price action is described as 'dull'. ### 17. Solana (SOL) (None) **Bias:** BULLISH **Key Levels:** resistances Mentioned as one of the altcoins that, unlike Bitcoin, is trading slightly above its resistance levels. ### 18. JP01Y (Japanese 1-Year Yield) (None) **Bias:** BULLISH (ON YIELD) The Japanese 1-year yield is described as getting 'pretty wild' for the Bank of Japan, which could have knock-on effects for the US Treasury market. ### 19. US 10-Year Yield (None) **Bias:** NEUTRAL Mentioned as a key market to watch ahead of the Jackson Hole speech and Core PCE data this week. ### 20. Treasuries (None) **Bias:** BEARISH The host notes that a rumored $2 billion purchase of long-term bonds by 'Bessent' is not enough to support the market. There are rumors of significant money being positioned against Treasuries, and he warns of potential 'fireworks' over the next 24-48 hours around Jackson Hole. ### 21. US Oil (None) **Bias:** NEUTRAL Described as having 'not too much going on', though it did rally over the last 24 hours. ### 22. Brent (None) **Bias:** NEUTRAL Similar to US Oil, Brent has stabilized. The real interest has been in energy stocks rather than the commodity itself. ### 23. Diesel / Crack Spread (None) **Bias:** BULLISH (ON PRICE) **Historical Comparison:** Reminiscent of oil services last year, which moved before the broader energy market. The rising price of diesel is highlighted as a persistent problem that the market is largely ignoring. The trend has been in place since July. There was a small improvement in the crack spread in the last 24 hours. ### 24. Qs (Nasdaq 100) (intraday) **Bias:** NEUTRAL **Pattern:** range-bound / trapped **Key Levels:** 700 support (put level), 720 resistance (call level), 730 resistance The Qs are at the 720 call resistance for zero DTE options and are trapped in a range between 700 put support and 730 call resistance. This equilibrium is typical ahead of major news events. ## Regime / Cycle Analysis The market is described as being in a 'kangaroo style' regime, which is considered normal for a midterm election year. The most closely correlated historical analog is 1978, which suggests potential weakness into the midterms followed by strength. There is a theme of deregulation and financial product innovation from Wall Street (e.g., weather betting), creating a 'wild west' environment with euphoric and 'gambly' sentiment. Intermarket analysis highlights the connection between rising Japanese yields and the US Treasury situation, and the inflationary pressure from rising diesel prices. ## Key Calls & Predictions - The primary methodological call is to 'practice patience, react, don't predict', especially in a trappy market like 2026. - Expect the unexpected and potential volatility over the next 24 hours to few weeks due to the Jackson Hole speech, seasonality, and geopolitics. - A warning that rising diesel prices are a persistent problem that the market is currently ignoring. - A warning of potential 'fireworks' in the Treasury market around the Jackson Hole event. - The market is characterized by significant sector rotation rather than a broad, unified trend. ## All Instruments Mentioned Bitcoin, Tech Stocks, Nvidia, S&P 500, TQQQ, SSO, IGV (Software ETF), Salesforce, Energy (stocks), Solar, Clean Energy, Gold, BUG (Cybersecurity ETF), Adobe, Microsoft, KOSPI, Semiconductors, Copper, Ethereum, Solana, JP01Y (Japanese 1-Year Yield), US 10-Year, Treasuries, US Oil, Brent, Diesel / Crack Spread, Qs (Nasdaq 100) --- *Generated by FX Evolution Monitor on 2026-08-29 23:01:07*