Transcript of Wall Street Is Doing Something Strange Again...
FX Evolution - Trading Academy
0:00Some of the numbers in today's video are0:01going to shock you because it seems that0:03whatever Wall Street's up to right now,0:05it all has to do with bonds, treasuries,0:08and alternative assets.0:10Yes, guys, the AI bubble may be starting0:12to show signs of significant weakness.0:15And this week, we have one of the big0:17linchpins, Nvidia earnings, and of0:19course, what's going on with energy.0:22We've got new number one transactions,0:24and we've got big investors and traders0:26with some huge opinions. Join us in0:28today's special weekend edition. I'll0:30see you in just a moment.0:36Well, welcome back to one of the largest0:38daily shows on the planet when it comes0:39to end markets around the world. My0:41name's Thomas. I've been in markets for0:42over 17 years, and we do things a little0:44bit differently on the channel. We break0:46down the macro, the behavioral finance0:48that really impacts us as retail0:50traders, and what Wall Street does. And0:53of course, we take a look at the biggest0:55flows around the world. This week was0:57about big tech kind of selling off from0:59hardware, and healthcare, metals, and of1:02course, we also saw energy picking back1:05up as signs of inflation and more1:07importantly, concerns over the1:09geopolitical situation continue to break1:11out as stories of the last two to three1:13weeks. If you're interested in that type1:15of stuff, remember to subscribe and1:16smash the like button because really1:19breaking down this type of stuff is what1:20moves these markets. Let's start though1:23by discussing this, which is of course a1:25great chart here from Tabi Costa and1:27Azuria Capital. And it's more of the1:28same that we've discussed now for years.1:31If you've been watching the channel1:32since, you know, the last four years1:33ago, we started to get of course very1:35bullish on the flows four years ago when1:37we started to see breakouts on gold1:40charts. At that point, we also saw1:42central banks purchasing. And it turns1:44out, according to the latest data here,1:46that we're also starting to see China1:48accelerate their purchasing while1:51Poland, India, and other countries are1:54also starting to come along. Now, does1:56that automatically mean gold's going to1:58go to the moon? Well, of course, no.2:00But, it does show us that there's a2:01little bit of demand at around these2:03levels, and we've already seen that in2:05some of the flow charts of the last2:06couple of weeks. To make matters more2:08interesting, this week was, of course,2:10bought in by big news. We saw the2:13Treasury start to panic. That is, they2:15came in and they said, "We'll buy the2:17long date." And, effectively impacting2:20the Treasury markets. Initially, what2:22did the market do? Well, we saw an2:24impact into Treasuries going up and2:27yields coming down. But, that reversed2:30itself by Friday. And, it goes to show2:31that it's not enough money. Yes, Wall2:34Street now knows where the pain point is2:37for the overall Treasuries. But, in at2:40least our experience, or my experience,2:42I've seen this a couple of times before2:43in similar ways. It kind of reminds me2:46about something I wrote in the2:46newsletter, which also had this chart in2:49it. Free, by the way, links in the2:50description down below. One story, one2:52chart, one learning lesson each week,2:54guys. Completely and utterly free, down2:56below.2:57Make sure to subscribe. But, it looks2:59like 2007. That is that the Treasury3:01came in, did some support. Everything's3:04all good, everything's all fine, and3:05then suddenly it wasn't. And, we saw a3:07cockroach contagion, of course, in the3:10housing debt markets. Well, this time we3:12have to look at everything. We got to go3:14and we've got to look at the financials.3:17For most of 2025 into 2026, the3:20financials have been very strong.3:22Particularly in Europe, they've actually3:24outperformed the S&P, outperformed many3:26other markets. Well, the financials in3:28America started to show some signs of3:30momentum slow down. We lost one of the3:32smaller time frame trend lines. We3:34started to see regional banks put3:36pressure on, of course, these lows. And,3:38these charts are the types of things3:40that we watch here on the channel. And,3:41of course, we break down together3:43because we need to be paying attention3:45to what they're doing, not what they're3:46saying. Where are the flows3:47realistically moving? And, do we see3:49signs of extreme weakness coming into3:51those movements? Let's now take a look3:53at bonds because of course, as we know,3:55this was a story of the week, the3:57Treasury bonds. And it really started4:00here with this one here from Hedgy4:01Markets over on X, Bloomberg and4:03Morningstar. Basically showing that4:05government bonds were now competing with4:07corporate bonds. Now, on the surface,4:10you might say, "Oh, what's the big4:10deal?" We don't really see this very4:12often where people are moving out of4:15what is considered the safe haven, the4:17US government treasuries, all government4:19treasuries around the world and saying,4:20"Oh, I'd rather go into an AI debt4:22because I get paid more percentagely for4:25the risk, but at the same time, they're4:26even considering it as potentially4:28safer." And that is almost a dangerous4:31precinct because of course, we know, and4:33I'm sure you're aware, that the old AI4:35bubble, the old AI move right now, is4:38starting to come into question. Hardware4:40stocks, of course, fell into an epic4:41collapse just a month or two ago, and we4:44saw retail get absolutely fleeced from4:47that, of course. Massive levels of4:49margin accounts. I think it was like4:51460,000 reported margin accounts in4:53South Korea alone getting liquidated.4:56But what this all really shows us is4:57that money is going wherever it can to5:00find those areas of potential gains as5:04people come to start to chase to get5:07some of these returns that were now just5:09like thought of as daily returns. You5:11know, 10% a day on a stock in 2026, it's5:14no problems, is it? Absolutely easy.5:17Let's have a look here at financials and5:19we can see the sixth largest transaction5:20ever recorded, which was the dark pool5:22of coin to volume leaders, came through5:24just over a week ago. Since then, what5:27has financials done? Well, they've5:28declined slightly. And of course, these5:31can impact and be those critical points5:34in markets that you need to be paying5:36attention to. So, we'll continue to5:37track that. But let's move over to5:39treasuries because probably what Besant5:41did this week is not enough. Remember,5:44he upped it from two to four billion in5:46terms of the buybacks. it's probably5:48going to want to be pressured by the5:49market and we kind of suspected that5:51this may occur, which is intervention.5:53This week's Jackson Hole on Friday, so5:56that might be interesting to see what5:57the Fed says, but at the same time we5:59expect this to be one of the storylines6:01of the week. And if the markets do press6:04back underneath that level that was just6:06intervened in, expect potentially big6:09news to come out and of course some huge6:11moves in markets as volatility,6:13remember, is just set to increase over6:16the next month to two months into the6:18midterm elections. We're not long away6:20from that now, guys. What is it? 60, 706:23days or something? So, as we move into6:26this period of time, remember,6:27historically volatility starts to spike6:30late August into September into October.6:32Will it be that way again? We don't6:34know. Let's see what the some of the6:36experts believe because they were all6:38out talking about it this week. Ray6:39Dalio came out and said that US debt is6:42now a massive problem and he believes6:45it's getting near market breaking point.6:47Now, of course, all of these guys have6:48said things like this before6:50and you've got to take it a little bit6:51with a grain of salt. We often say if6:53it's in the press, it's in the price.6:55But, he believes that money should be6:56moved potentially into out of bonds and7:00into potentially gold and even Bitcoin.7:03That's an interesting concept there that7:05he's going with and of course, it really7:07shows the maybe lack of faith in the US7:10dollar and fiat currencies moving7:12forward. Meanwhile, China, of course,7:14increased their purchasing of gold and7:16other assets and Michael Burry was out7:18again saying, "Should we be seeing7:20somebody come out like a Soros?" If you7:22remember the story back and in back in7:25the day with Stanley Druckenmiller and7:27others, and actually turns out Bessant7:29was there as well, it sounds like, that7:31they broke, of course, the Bank of7:32England. Are we going to see a similar7:34type of thing happen in the US? Let me7:37know in the comments down below. Do you7:38think that's even possible with the7:40amount of money on the line? I would be7:43I mean that would be of course a story7:44that will probably get made into a film7:45if it does ever happen. Uh regardless,7:48it's an interesting concept. It's7:49obviously not really too worth thinking7:51about. Generally speaking, what you7:53really want to be doing is saying,7:54"Okay, where are we seeing the pain7:56points? Where are we seeing the price7:58action, the traps, the retail movements,8:00and more importantly, those reactions?"8:03Now, this week will be marked by two8:04major stories, Nvidia earnings, and then8:06of course Jackson Hole on Friday. So,8:09make sure to stay tuned for both of8:10those as it could impact of course what8:12we're seeing on charts such as this one8:14here from Blue Horseshoe. So, just as8:16volatility tends to spike in midterm8:18election years around this time,8:20what we also see is a whole bunch of8:23narratives coming out. And we love8:24structure narratives because what they8:26do is they show us previous periods. And8:28funnily enough, I think the two closest8:31periods to right now is 1978, and uh if8:34you can even believe it, it's actually8:362007. So, they're the two markets8:38overlaid the closest according to the8:40data right now. Now, what does that8:42mean? Well, of course, it could mean8:44that we're going into a volatile period8:46into October. And if it's like 1978,8:49which is the closest correlation right8:51now, then we would potentially bottom8:53around that period coming into midterm8:54elections, and then maybe continue to8:57move forward. And that makes sense to8:59certain reads such as the one where you9:01go over 3 and 1/2 [clears throat] years9:03of market bullishness since the last9:06major crash, and you end up kind of9:08running into maybe even a 5 to even9:1112-year run. So, let's look at the other9:14hedges around the world. Firstly, the9:15dollar index. Now, Duality Research here9:17has a really good chart because it shows9:19us that we're moving into a bit of an9:21extreme right now. And this was shown of9:23course before the dollar started to9:25weaken. Since then, the dollar's kind of9:27gone like this. And if we do end up9:29closing towards new lows soon, we could9:31be in what we call a flag pattern. And9:33we'll discuss that when we look at the9:35chart very, very soon. But, the market9:37itself really has been putting pressure9:40on the dollar for a little while now.9:42About the last 4 weeks, we've seen9:44weakness in the dollar, which is9:46uncharacteristic to potentially what9:48many would call as a Wyckoff bottom.9:51Now, I always say a confused market9:53makes a very tough trade. And the reason9:55I can say it's confused is because on9:57one hand, you've got an accumulation9:58base. On the other hand, you have too10:00many people going bullish. And then you10:02also have what looks to be negative10:05style price action. So, what you might10:07want to say instead is is this some kind10:09of giant accumulation or distribution10:11base, a pit in essence, a pullback in10:14time. And when we see a movement outside10:16of that, it could get very wild very10:18quickly. Remember, one of the things10:20about these large movements on markets,10:22e.g. what Bitcoin's done recently, is10:24when they coil for a long time, when10:26they do break out, they can be pretty10:27explosive. Let's talk about the best10:30performing sectors. So, you might think10:32in the charts, oh, it's probably going10:33to be semiconductors. No, semiconductors10:36were the worst or close to the worst10:38performing sector this week, while10:40precious metals continued to see massive10:43rotational shifts. And of course, we10:45also saw metals, agriculture,10:48energy, and health care. You know, it10:51was a really different week. And it10:53actually looked a lot late cyclically10:54because these types of market sectors,10:57energy, gold, health care, they tend to10:59be really on the later cycle of an11:02earnings rally. Let's talk about11:03Bitcoin. Bitcoin saw an epic rally. Take11:06a look here.11:07A few days before the announcement, of11:09course, at the White House, and everyone11:11started to flip the switch, we saw11:13pretty large inflows. Then they got even11:15bigger. Then they went ballistic. And of11:18course, they were backed up again. So,11:19these are really big numbers coming out11:21for, of course, Bitcoin ETF flows. And11:24it goes to show why we've moved from one11:26level to the next level. And I want to11:27kind of state here that equilibrium or11:29TA is a really important point to11:32understand in markets. We actually put a11:34price and I talked about it being a11:36value node or volume node this week. And11:40what did Bitcoin do? It went there very,11:42very quickly and that actually caused11:43going to blue curdle here, a weekly11:45percentage thrust change that we don't11:48see that often. In fact, this is the11:50percentage change and what Bitcoin did11:5224 gain 24 in the week between11:57the 14th of August and 21st of August.12:00So this is 24% weekly percentage change12:03and it puts us into a pretty unique kind12:06of area. Often timing with a bit of a12:09market improvement. So yeah, that's12:11pretty impressive stuff there coming in12:13from Bitcoin. And it just goes to show12:15how fast things can change in this12:16market in 2026. Here's the resistance12:19breakout. Here's the first day. I've12:21taken a snapshot of the second day as12:23well, so you can see it. And then of12:24course, where did we end the week? Well,12:26you guessed it, right in that volume12:28node. And the reason is because markets12:31love to go from one level to another12:33level fairly quickly once it's in the12:35actual price action itself and if you12:37haven't had too much transactions on12:39that left-hand side. If you ever want to12:41know more about this, we have courses on12:43this over at fxevolution.com12:45and you can check out them and of course12:48learn more about markets. Remember, I12:49always say if you want to speed up your12:51learning by 10,000 plus hours so you12:53don't make the mistakes which can be12:55very costly, don't go through the pain,12:57don't go through the psychological12:59traps, all of those types of things,13:00you've got to check out at least some13:02form of education so you up your game13:04faster. You've got to speed it up guys,13:06otherwise you'll be left behind. Let's13:08now take a look here at Earnings13:09Whispers. This week is Nvidia week13:11pretty much. We've also got CrowdStrike13:13on Wednesday, so probably Wednesday13:15after the close is the big one. This13:17from Earnings Whispers and then this one13:19of course from Earnings Watcher. Now,13:21why do we check this out? Well guys,13:23it's all about the options moves. Have a13:24look at these options moves. They've13:25been pretty bang on this earning season.13:27You can say they've been pretty close to13:30what has been expected.13:32At least with some of the big names. You13:33never know that, but Nvidia is going to13:35be a plus or minus 6.2% according to the13:38options market. So, that's going to be13:40hundreds of billions of dollars. So,13:43it's going to be a wild move no matter13:45what when it comes to the overall13:47sentiment of this market. Remember,13:48hardware's been coming under a lot of13:50focus. Nvidia said they're going to have13:52to increase prices. I don't know if13:54you've gone and checked out a graphics13:56card right now, but if you look at a13:575090,13:59you might be under the desk faster than14:01you can blink, guys, cuz it is damn14:03expensive. Damn expensive. I remember14:05just a year ago those cards were, you14:08know, transacting at what, 3 and 1/214:09thousand Aussie. Now, we're looking at 814:13and 1/2 thousand Aussie.14:15Just let that sink in. Oh, nasty.14:18Anyway, if you bought that, what a great14:19investment. Not too bad. Graphics cards14:21in your computer, who would have guessed14:22it? Let's now take a look at ARKG. And14:25this is a large transaction. A new14:27number one, in fact, according to volume14:29leaders happening after the big move in14:31Moderna this week sending everyone going14:33ballistic. Now, it's not to say it has14:35topped or anything, but it is a big14:37transaction. It could mean that interest14:39is there and we're going to go into a14:41pit. I do remember that although14:43everyone started looking at Moderna,14:45when did we first start looking at it14:46from the perspective of flows? Over 2.514:50months ago. Guys, it happens on the14:53charts before it happens in the press.14:57Uh yeah, it just tends to be that way.14:59Let's have a look here at Solar as well.15:01Big transactions come through. Number15:03four largest, number one in a sweep.15:06Now, this weekend has been marked a15:08little bit by energy.15:10We've seen people start to talk about,15:12well, it's particularly Nvidia start to15:13talk about we need energy, guys. We need15:15energy because we can't actually get15:18these data centers online properly. Is15:20that going to help Solar? Is that going15:22to help clean energy? Is that going to15:24help energy in general or force it up?15:26Uranium, all these things start to come15:27into question and at least it was a15:30large number one transaction here from15:31dark pool. Just a quick reminder again,15:33if you're interested in finding out more15:34about what we do over at FX Evolution,15:37sign up to of course the newsletter.15:39Each week we do one chart, one story,15:41one market lesson. I write it, it's15:42pretty awesome and last week's was of15:45course another great session. So, make15:47sure to check it out in the links in the15:48description down below. Totally free15:50guys, sign up. What do you got to lose?15:51Now, let's have a look here at KWEB15:54because yes, there are always different15:57opportunities in markets. There's always15:58an abundance process, but an interesting16:01thing that we've seen linked up. We've16:02talked about it many times. Remember it16:04was once that Bitcoin was linked to16:06software companies. That then broke. It16:08was before that it was linked to ARK.16:10That broke. Before that it was linked to16:11M2 money supply. Blah blah blah blah16:13blah. The list goes on. Anyway, the new16:16sync has been KWEB [laughter] for16:18whatever reason. So, basically we've16:21seen the uh16:23Chinese markets, particularly the tech16:25markets and Bitcoin kind of link up a16:27little bit here and you can see the the16:29peaks and troughs at least having an16:31interesting synergy. Anyway, this week16:33was marked by Bitcoin going wild and16:36although China did improve, KWEB didn't16:38really do too much, did it? So, an16:40interesting one, still observing it.16:42Obviously, it's always cool to bring16:43those things up. We also saw the number16:45one transaction on solar. Now, if you go16:48back in, what does that look like guys?16:50It's a bit of a freight train towards16:51the downside. So, is it a level of16:53demand? Potentially. Is it a zone of16:55interest? Yeah, I guess so. You could16:57say that. Look at that massive dark that16:59massive transaction as well. Was that17:01the dark pool? What do you think?17:03Big big transaction there.17:04Uh massive volume, but still down down17:07down. Series of lower lows and lower17:09highs. Remember, you sometimes have to17:11have patience in markets. You have to17:13recognize that even if you think, even17:15if you have that gut instinct, that's a17:17bias, biases are attacked by the17:20markets. Wall Street knows this, they17:22know all of them, there's like 180 of17:24them as it turns out. And yeah, we tend17:27to make the same mistakes time and time17:28again. So, remember you've got to wait17:30for markets to show signs of17:32improvement. Speaking of which, we have17:35seen other energy stocks starting to17:37move a little bit in terms of narratives17:39anyway. You can see here that uranium17:42kind of broke its downward trend line in17:43terms of closed above. It made a higher17:46high and things have started to improve17:48a little bit. It's a pretty wild market17:50out there for uranium, of course. It's17:51still early days, it could easily move17:53back down and fail at these areas. But17:56when you start to look at it on things17:57like weeklies and stuff, you can see17:59slight improvements to drops. What do18:01you guys think though? Interesting18:02market, it's been basically doing18:04nothing for the last entire year. And18:07it's one of those ones that's always18:09about speculation. Whenever the energy18:11market starts to come into focus, it18:13often is like kind of a speculation18:14thing. But I thought I'd bring up this18:16to show you it's not across the board.18:18Look here at utilities, they're not18:20picking up. Utilities actually have18:21dropped and they're coming back down to18:24a very important demand zone. So, like18:26always, there's two sides to every coin.18:28You've got to consider both ends and18:30then figure out yourself which ones, of18:32course, make the most sense. Let's have18:34a look here at financials. What's18:36happening there? Series of higher highs18:37and higher lows and we've seen a slight18:39turnaround. And do remember that one of18:42the things we like to do here is we like18:43to look at financials versus the S&P.18:47That is have financials done better or18:49worse? Now, they recently fell to a18:53significant low. That was back in the18:55May period. Then they recovered, but18:57they're still kind of weak. And along18:59with regionals, cuz of course regional19:01banks should theoretically feel the pain19:03first, we're starting to see a little19:05bit of weakness. It's still extremely19:07early. I wouldn't say there's anything19:09here to say the markets have turned19:11around, but um still watching it. We19:13also saw corporate bonds come into focus19:15exactly on the levels of support. Guess19:18what? Besson jumps in, and of course the19:20Treasury is going down to 2004 levels19:22making all the headlines they don't want19:24to see. We get that interaction with the19:27markets 2 to 4 billion. Don't think it's19:29probably enough. The markets rally, and19:31then they come straight back down to19:32where the announcement was made. So, it19:34looks like Wall Street's wanting to put19:36the pain on the US Treasury for now. And19:39I expect there to be more stories coming19:41out about this as we start to see more19:43in the price action. Remember, did it do19:45enough to change a significant downward19:48trend? At least based on the technical19:50theories that I look at, I would say not19:52yet. Now, let's have a look here at US19:5410-year. What's going on there? Well,19:56that also jumped up and almost made new19:58high by the end of the week. So, well,20:00actually closed a new high. Now, is this20:02significant because of course who20:03controls the long rate yields? It's not20:07the Fed, guys. It's not the central20:08banks. It is the market itself. The20:11market says this is what the rates are20:12going to be in the future because policy20:15doesn't impact that as much. So, of20:17course we've got a higher yield, and20:18then you would think, well, that should20:20mean that the dollar is going up.20:22It's not. It closed down. So, the US20:24dollar as we suspected or talked about20:26before, it's still trapped within a20:28range, and it's still quite neutral.20:30Although positioning, as we've talked20:33about, has been more bullish in recent20:34weeks. Let's now look at UK oil or oil20:37in general. It's kind of dull and20:39creeping up. And really the story of the20:41day continues to be this diesel fuel.20:44Oh, it's going to impact us. Look at20:46this. Wow, wow, wow. That's another20:50all-time high closure here on crack. And20:53uh it just goes to crack is on crack,20:55guys, because it is moving up. It's20:57closing20:59at all-time highs. It's going to put,21:01you would think, pressure on the food21:03and everything else that's going on. And21:05of course you have to then start looking21:07at your um your other inputs as well21:09because things like nutrient.21:11So of course, fertilizers and stuff.21:13Look at them going. They're starting to21:14move as well. So although this is an21:17observation, it could be showing us that21:20yes, okay, the inflation figures that21:22we're getting are showing one thing, but21:24maybe there's a further pressure21:25underneath. And again, if we continue to21:27see energy outperform the spy over the21:29next coming months, it's another sign of21:32a later cycle, possibly topping earning21:35style market. And of course, we just had21:37one of the best earning Well, the best21:38earnings ever on record. It was an21:40extremely good earnings and a lot of21:42people going hyper on it because it21:43looked pretty damn good on the surface.21:45Now, what did Wall Street do? They21:46punished it. They punished the hardware.21:49And again, we do not have leadership21:50right now from the hardware21:53semiconductors markets. They're still21:54doing nothing. It's the age-old story.21:57When all the retail traders, when21:58everyone's looking at it, they tend to22:01underperform. And it's really when22:03everyone loses faith on something.22:04>> Oh, Bitcoin.22:06>> Oh, yeah. All right. So, let's have a22:08look here at Cospi. It's Does it look22:11like an inverse head and shoulders? A22:12lot of people draw this type of chart.22:14Do we have of course a neckline? Yeah.22:17Do we have a break of a neckline or a22:18close above it? No.22:20It's just one of those key kind of key22:22levels here. And again, it's been22:24consolidating for the last couple of22:26weeks, something we're watching. Nvidia22:28in focus. It's on the put support on the22:30zero DTs. So that is the kind of closest22:32put support. Could we go down to 190?22:35That would be pretty bad. And of course,22:36if markets do make a new high, they go22:38through 230, then markets would turn22:41into positive gamma. We'll be chasing22:42this one this week in terms of making22:45sure to view it, observe it, and bring22:48the latest options data to you. So make22:50sure to follow along for that. Let's22:52have a look at gold stocks now. Super22:54performance from gold stocks this week.22:55They actually broke or closed a little22:58bit higher22:59than gold did. And they showed a little23:01bit of extra performance. Why? Probably23:03just the profitability from them. But23:05gold continuing to move up and getting23:07closer to that second volume node, uh23:10which it maybe, who knows, maybe going23:12towards. This is also a good lesson, I23:14guess, of making sure that you're23:16following trends more than anything23:17else. Uh why? Well, you want to be23:19making sure that you're following those23:21PIT concepts. Remember, most retail23:23traders, they always think things are23:25crazy or overboard or oversold or they23:27can't go any further, and they can't go23:30any lower, and they can't do this, and23:31they can't do that. Well, I got a chart23:33to show you guys, and you're not going23:34to like it if you if you've been looking23:36at this market for a long time. And take23:38a look at the greatness of Nike. Now,23:41you would say, "Oh, okay, Nike can't go23:42down. It can't be $40. I mean, it can't23:45even load on my screen." But once you go23:48and you think about charts like this,23:49you've got to expect the unexpected23:51because when you think about it, back in23:542021, it would be unlikely that people23:57would say, "Oh, Nike's going to trade at23:58$40, and we're not going to be in an24:00economic crash." You know, but that's24:02exactly what happened. So, this is just24:04a good story of getting rid of some of24:06that behavioral bias that people have.24:09And I want to talk more about this. Let24:10me know if you're interested in the24:11comments down below this year because24:13it's really such an important aspect, I24:15believe, to what I've learned over the24:17last 17 plus years from both the24:19institutional side and the retail side.24:21Where do people go wrong? It's often in24:23these kind of areas. It's understanding24:25the charts, understand the trading24:27systems, but it's actually even more24:28deeper than that. Now, let's have a look24:30here at silver. It kind of slammed24:32straight into 70, sold off a little bit24:34there. Probably no surprise you've been24:35watching this this week. These are the24:37levels of interesting views. And if24:40silver can get through this, then could24:41it get to 75 plus, you know?24:44Again, 2050 crosses, improvement here on24:47one of the precious metals. And a lot of24:49focus coming in on silver as we're24:51seeing maybe a little bit of a change in24:53the market. So, I mean, copper managed24:55to regain itself by the end of the week.24:58This was important cuz of course if Dr.25:00Copper goes bad then we've got weakness25:02potentially coming into the GDP. There25:03it is. Ends up as a doji. Important25:06market. We'll keep watching it.25:07Important market. But silver kind of25:09slamming into that first little25:11technical resistance. Ethereum meanwhile25:13sitting right around technical25:14resistance. Great weekly closure25:16potentially coming in here. And you'll25:18note that it's gone slightly higher25:20high. Now while that's happened Bitcoin,25:22yeah, you might have guessed it, come25:24straight into that 77 78k node. And25:27everyone's drawing this trend line now25:29and saying it's the end of the bear25:31bust, guys. Well, who knows? Maybe it25:33is. But the point is is that we have25:36still this resistance supply to deal25:37with. That was an aggressive movement25:39up. We're still looking at flows. We25:41want to see more large transactions come25:44in. And of course more announcements.25:46But um yeah, it's the beginning of25:48potentially something bigger for25:49Bitcoin. Goes to show power of demand.25:51Also goes to show it takes longer to25:53turn a freight train than people think.25:56You know, it's often people will say,25:57"Well, I'll turn in a V-shape and it'll25:59dance off over the next place." Guys,26:01it's been sitting there for like what?26:03Eight eight nine months? 10 months? It's26:05been doing nothing. So, it does take26:07time. And when people don't look at it,26:09that's when it often kind of starts to26:11ramp back up. Let's have a look at Qs.26:13They're in the middle of nowhere.26:16>> [laughter]26:16>> They're literally stuck in the middle of26:18nowhere. Now, you can kind of go down26:21and you'll grab a couple of things that26:22are of interest here. I think probably26:24the big one is if you put in things like26:26VWAPs here, you're going to find VWAP26:28levels. So, we've got those VWAP levels.26:31We're not quite at 700 put zones. The26:33S&P is kind of also sitting around the26:35VWAP.26:36So, these are areas where you can see26:39some technical support coming in. But we26:41haven't really seen the big options or26:43the big transactions or anything. The26:44indices have been way more boring than26:47let's say the rest of the charts over26:49the last couple of weeks. It's really26:51been an26:52from sector rotation, something we talk26:54about here on the channel. Most guys26:56don't do it. Most people don't do cross26:58analysis. They don't do these things.27:00It's so important to consider them. Now,27:02let's have a look at US 500. Here are27:03the volume nodes, 7400 and 7500. Two27:07important levels and of course we're on27:09the 20 moving average daily and VIX. So,27:12kind of that little support we can dial27:14in on small time frames as we see Monday27:16open. Guys, the week ahead it's really27:18just about a couple of things. Jackson27:21Hole Symposium and of course also some27:24core PCE on Wednesday, which will come27:26out I think was it? Yeah, 8:30 New York27:28time. But a lot of people will talk27:30about, you know, Jackson Hole Friday,27:32Thursday, etc. Why is that going to be27:34important? We might glean some27:36information about what the Fed's going27:37to do. We also could find out a little27:39bit more about what the central banks27:41are going to do around the world in27:43terms of the treasuries as well.27:45What is the US government going to do?27:47You know, there's so much going on right27:48now in these markets. We have to be27:50paying a lot of attention, but really27:52it's going to be paying attention to the27:53price, not necessarily the narratives27:55because there's a lot of people that are27:56bearish, there's a lot of people that27:58are bullish. As we say, no FOMO, no28:00fear.28:02Indifference whenever possible with28:04objective look at the data, the price28:06action and the flows.
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