# Monday Live Stream US Market Open: **Date:** 2026-06-06 **Source:** [YouTube](https://www.youtube.com/watch?v=_LWXNvPwBZE) ## Main Thesis The market is at a critical juncture, with the SPX potentially forming a topping pattern or consolidating before a further move up, while the DXY is showing signs of a potential reversal and commodities like Gold and Silver are breaking out. ## Charts & Technical Analysis ### 1. SPX (daily) **Bias:** NEUTRAL TO CAUTIOUSLY BEARISH (SHORT-TERM) **Pattern:** potential topping pattern (head and shoulders or double top), ascending channel **Key Levels:** 5200 support, 5300 resistance, 5350 resistance, 5400 resistance Atkinson highlights the SPX's struggle to break above 5350-5400. He points out the potential for a topping pattern, possibly a head and shoulders or a double top, with the 5200 level being critical support. He notes the market is at the top of an ascending channel and is showing signs of exhaustion, but acknowledges the possibility of a consolidation before another leg up. ### 2. NDX (daily) **Bias:** NEUTRAL TO CAUTIOUSLY BEARISH (SHORT-TERM) **Pattern:** ascending channel, potential topping pattern **Key Levels:** 18000 support, 18500 resistance, 19000 resistance Similar to the SPX, the NDX is at the top of its ascending channel, showing signs of exhaustion. Atkinson notes the 18500-19000 area as strong resistance and 18000 as key support. He suggests it's also forming a potential topping pattern, but could consolidate before moving higher. ### 3. DXY (daily) **Bias:** BEARISH **Pattern:** potential double top, breakdown from ascending channel **Key Levels:** 104.50 support, 105 resistance, 106 resistance The DXY has broken down from its ascending channel and is showing signs of a potential double top. Atkinson sees 104.50 as critical support, and a break below this would confirm a bearish reversal. He expects a move towards 103 or even 102 if the breakdown is confirmed. ### 4. EUR/USD (daily) **Bias:** BULLISH **Pattern:** potential inverse head and shoulders, breakout from descending channel **Key Levels:** 1.08 support, 1.09 resistance, 1.10 resistance The EUR/USD is showing signs of a potential inverse head and shoulders pattern and has broken out of a descending channel. Atkinson sees 1.08 as strong support and expects a move towards 1.09 and potentially 1.10 if the bullish momentum continues, driven by DXY weakness. ### 5. Gold (XAU/USD) (daily) **Bias:** BULLISH **Pattern:** breakout from consolidation, ascending channel **Key Levels:** 2300 support, 2350 resistance, 2400 resistance Gold has broken out of a consolidation pattern and is showing strong bullish momentum. Atkinson highlights the 2300 level as key support and expects a move towards 2350 and potentially 2400. He sees this as a significant breakout, potentially leading to new all-time highs. ### 6. Silver (XAG/USD) (daily) **Bias:** BULLISH **Pattern:** breakout from consolidation, ascending channel **Key Levels:** 28 support, 29 resistance, 30 resistance Silver is mirroring Gold's strength, breaking out of its consolidation. Atkinson points to 28 as strong support and expects a move towards 29 and potentially 30. He emphasizes the strong relative strength of Silver compared to Gold, suggesting it could outperform. ### 7. Crude Oil (WTI) (daily) **Bias:** NEUTRAL TO CAUTIOUSLY BULLISH **Pattern:** descending channel, potential double bottom **Key Levels:** 75 support, 78 resistance, 80 resistance Crude Oil is in a descending channel but showing signs of a potential double bottom around 75. Atkinson notes the 78 level as key resistance and expects a bounce towards 80 if the double bottom holds. He suggests a potential reversal if it breaks out of the channel. ### 8. 10Y Yield (US10Y) (daily) **Bias:** BEARISH **Pattern:** descending channel, potential double top **Key Levels:** 4.20% support, 4.30% resistance, 4.40% resistance The 10Y yield is showing signs of a potential double top and is in a descending channel. Atkinson sees 4.20% as critical support and expects a move lower towards 4.10% or even 4.00% if the bearish momentum continues, which would be bullish for equities. ### 9. Bitcoin (BTC/USD) (daily) **Bias:** NEUTRAL TO CAUTIOUSLY BULLISH **Pattern:** consolidation, ascending channel **Key Levels:** 68000 support, 70000 resistance, 72000 resistance Bitcoin is consolidating within an ascending channel, struggling to break above 70000. Atkinson sees 68000 as key support and expects a potential breakout towards 72000 if it can clear the resistance. He notes the market is waiting for a catalyst. ### 10. Ethereum (ETH/USD) (daily) **Bias:** NEUTRAL TO CAUTIOUSLY BULLISH **Pattern:** consolidation, ascending channel **Key Levels:** 3500 support, 3800 resistance, 4000 resistance Ethereum is also consolidating within an ascending channel, with 3500 as strong support. Atkinson expects a move towards 3800 and potentially 4000 if it can break out of its current range, mirroring Bitcoin's potential move. ## Regime / Cycle Analysis Atkinson discusses a potential shift in macro regime with the DXY weakening and commodities like Gold and Silver breaking out, suggesting a 'risk-on' environment for commodities and potentially a rotation out of tech/growth if yields continue to fall. He also links a weaker DXY and lower yields to potential support for equities, but warns of topping patterns in the major indices. ## Key Calls & Predictions - Watch SPX 5200 and NDX 18000 as critical support levels for potential topping patterns. - Expect further DXY weakness if 104.50 breaks, leading to EUR/USD strength. - Gold and Silver are strong buys on dips, targeting higher levels. - Monitor 10Y yield for a break below 4.20% as a bullish signal for bonds and potentially equities. - Be cautious with tech/growth stocks (NDX) as they show signs of exhaustion at channel tops. ## All Instruments Mentioned SPX, NDX, DXY, EUR/USD, Gold, Silver, Crude Oil, US10Y, Bitcoin, Ethereum --- *Generated by FX Evolution Monitor on 2026-06-06 20:00:17*