# LIVE: US Stock Market Monday Open: **Date:** 2026-04-26 **Source:** [YouTube](https://www.youtube.com/watch?v=SWJ-00ffslY) ## Main Thesis The market is at a critical juncture, with many instruments at key support/resistance levels, suggesting a potential for a significant move, likely to the downside, driven by a strong dollar and rising yields. ## Charts & Technical Analysis ### 1. SPX (daily) **Bias:** BEARISH **Pattern:** descending channel, potential double top **Key Levels:** 5000 support, 5050 resistance, 5100 resistance, 5200 resistance SPX is at a critical support level around 5000. Atkinson highlights a descending channel and a potential double top formation. He notes the market has been making lower highs and lower lows, and a break below 5000 would be very bearish, targeting 4800. He also mentions the 200-day moving average is around 4800. The market is currently consolidating, but the bias is to the downside. ### 2. NDX (daily) **Bias:** BEARISH **Pattern:** descending channel, potential double top **Key Levels:** 17000 support, 17200 support, 17500 resistance, 18000 resistance NDX is also at a critical support level around 17000-17200. Similar to SPX, it shows a descending channel and a potential double top. Atkinson emphasizes that a break below 17000 would be a significant bearish signal, potentially leading to a move towards 16000. He notes the market is struggling to hold support. ### 3. DXY (daily) **Bias:** BULLISH **Pattern:** ascending channel, breakout **Key Levels:** 106.50 resistance, 105.50 support, 104.50 support DXY has broken out of a consolidation pattern and is showing strong bullish momentum. Atkinson points out the ascending channel and the recent breakout above 106.50, indicating further strength. He suggests a target of 108-109. A strong dollar is typically bearish for equities and commodities. ### 4. US10Y (10-Year Treasury Yield) (daily) **Bias:** BULLISH (FOR YIELDS) **Pattern:** ascending channel, breakout **Key Levels:** 4.60% resistance, 4.50% support, 4.70% resistance The 10-year yield has broken out of a consolidation and is showing strong upward momentum, currently around 4.60%. Atkinson highlights the ascending channel and the breakout above key resistance, suggesting a move towards 4.70% and potentially 5%. Rising yields are a significant headwind for equities. ### 5. Gold (daily) **Bias:** BEARISH **Pattern:** descending channel, potential head and shoulders **Key Levels:** 2300 support, 2350 support, 2400 resistance Gold is at a critical support level around 2300-2350. Atkinson identifies a potential head and shoulders pattern and a descending channel. He warns that a break below 2300 would be very bearish, potentially leading to a move towards 2200 or even 2100. The strong dollar and rising yields are putting pressure on gold. ### 6. Silver (daily) **Bias:** BEARISH **Pattern:** descending channel, potential head and shoulders **Key Levels:** 27.00 support, 28.00 resistance, 29.00 resistance Silver is also at a critical support level around 27.00. Atkinson notes a similar pattern to gold, with a descending channel and a potential head and shoulders. A break below 27.00 would be a strong bearish signal, targeting 26.00 or lower. The strong dollar is a major headwind. ### 7. Crude Oil (WTI) (daily) **Bias:** BEARISH **Pattern:** descending channel, potential head and shoulders **Key Levels:** 80.00 support, 82.00 resistance, 85.00 resistance Crude oil is at a critical support level around 80.00. Atkinson points out a descending channel and a potential head and shoulders pattern. A break below 80.00 would be very bearish, targeting 78.00 or even 75.00. He notes the strong dollar is also impacting oil prices. ### 8. EUR/USD (daily) **Bias:** BEARISH **Pattern:** descending channel, breakdown **Key Levels:** 1.0650 support, 1.0700 resistance, 1.0800 resistance EUR/USD has broken down from a consolidation pattern and is showing strong bearish momentum. Atkinson highlights the descending channel and the recent breakdown below 1.0650, indicating further weakness. He suggests a target of 1.0500 or lower, driven by the strong dollar. ### 9. GBP/USD (daily) **Bias:** BEARISH **Pattern:** descending channel, breakdown **Key Levels:** 1.2400 support, 1.2500 resistance, 1.2600 resistance GBP/USD has also broken down from a consolidation and is showing strong bearish momentum. Atkinson points out the descending channel and the recent breakdown below 1.2400, suggesting further weakness. He expects a move towards 1.2300 or lower, due to the strong dollar. ### 10. AUD/USD (daily) **Bias:** BEARISH **Pattern:** descending channel, breakdown **Key Levels:** 0.6400 support, 0.6500 resistance, 0.6600 resistance AUD/USD has broken down significantly and is showing strong bearish momentum. Atkinson highlights the descending channel and the recent breakdown below 0.6400, indicating further weakness. He expects a move towards 0.6300 or lower, driven by the strong dollar and weakness in commodities. ### 11. Bitcoin (BTC/USD) (daily) **Bias:** BEARISH **Pattern:** descending channel, potential head and shoulders **Key Levels:** 60000 support, 62000 support, 65000 resistance Bitcoin is at a critical support level around 60000-62000. Atkinson identifies a descending channel and a potential head and shoulders pattern. He warns that a break below 60000 would be very bearish, potentially leading to a move towards 55000 or even 50000. The strong dollar and risk-off sentiment are impacting crypto. ### 12. Ethereum (ETH/USD) (daily) **Bias:** BEARISH **Pattern:** descending channel, potential head and shoulders **Key Levels:** 3000 support, 3100 support, 3200 resistance Ethereum is also at a critical support level around 3000-3100. Atkinson notes a similar pattern to Bitcoin, with a descending channel and a potential head and shoulders. A break below 3000 would be a strong bearish signal, targeting 2800 or lower. The overall crypto market is under pressure. ## Regime / Cycle Analysis Atkinson emphasizes a 'risk-off' macro regime driven by a strengthening US Dollar (DXY) and rising US Treasury yields (US10Y). This environment is bearish for equities, commodities (Gold, Silver, Oil), and cryptocurrencies. He suggests that the market is at a critical inflection point where a break of key support levels could lead to a significant downside move across multiple asset classes. ## Key Calls & Predictions - A break below 5000 on SPX would be a very bearish signal, targeting 4800. - A break below 17000 on NDX would be a significant bearish signal, targeting 16000. - DXY is likely to continue its ascent towards 108-109. - US10Y is likely to continue rising towards 4.70% and potentially 5%. - A break below 2300 on Gold would be very bearish, targeting 2200-2100. - A break below 60000 on Bitcoin would be very bearish, targeting 55000-50000. - The market is at a critical juncture; expect significant moves if key support levels are broken. ## All Instruments Mentioned SPX, NDX, DXY, US10Y, Gold, Silver, Crude Oil, EUR/USD, GBP/USD, AUD/USD, Bitcoin, Ethereum --- *Generated by FX Evolution Monitor on 2026-04-26 23:00:17*