Rate-hike odds rose, Iran risk simmered, and Bitcoin and Ethereum sold off. Large-cap equities did not follow.

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NVDA closed $224.25, up 3.13%. Seven of ten names on our board finished green.

The Call

Risk-off stayed inside crypto and never crossed into the AI leaders. Above $227.95, the NVDA breakout is live. Below $452.35, the AMD slide extends.

Session snapshot · Sep 2, 2026
SymbolCloseChangeDay range52-week range
AAPL$325.03-0.10 (-0.03%)$323.54–$328.36$225.95–$344.57
MSFT$496.74-4.28 (-0.85%)$493.83–$500.34$349.20–$553.72
AMD$456.51-3.10 (-0.67%)$452.35–$462.12$149.22–$584.73
V$378.50+5.82 (+1.56%)$374.01–$380.19$293.89–$385.57
JPM$356.22+1.27 (+0.36%)$353.86–$361.44$279.10–$366.50
TSLA$356.24+0.15 (+0.04%)$349.98–$360.41$297.38–$498.83
META$592.93+14.39 (+2.49%)$577.00–$600.33$520.26–$790.80
AMZN$254.93+0.01 (+0.00%)$253.45–$256.20$196.00–$287.20
GOOGL$337.12+2.10 (+0.63%)$332.93–$339.93$206.20–$408.61
NVDA$224.25+6.81 (+3.13%)$218.48–$227.95$164.07–$236.54

Risk Sheet

  • NVDA — $224.25. Gapped up 0.62% and closed in the upper third. Heaviest volume on the board at 5.3M shares. Volume confirmed it. Session high $227.95 is the level breakout traders are watching.
  • META — $592.93, up 2.49%. Second straight green close. Tagged $600.33 and gave some back. Below $577.00 the two-day advance is gone.
  • V — $378.50, up 1.56%. Now 1.8% below the 52-week high. Our August call for sub-$355.00 was flat wrong. Visa never broke — it added 6.4% over 30 sessions instead. We were fading strength.
  • MSFT — $496.74. Third consecutive red close and the $500 round number is gone. Our below-$475.00 call expired unfilled. A 30.1% 30-session gain was the wrong thing to short. $493.83 is the reference low.
  • JPM — $356.22. Gapped up 0.79%, tagged $361.44, then closed in the lower third. That is a fade, and $353.86 is the line under it.
  • AAPL — $325.03, essentially unchanged. Lower-third close after a $328.36 print. Still 5.7% below the 52-week high.
  • AMZN — $254.93, dead flat. Our sub-$251.93 call is still live through Sunday.

The Outlier

AMD closed $456.51, down 0.67%. It was the only major semi that missed the bid.

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CNBC flagged Broadcom CEO Hock Tan's bullish long-term AI targets Thursday. The complex responded. AMD did not.

NVDA outperformed AMD by 3.80 percentage points in a single session. NVDA sits 5.2% below its 52-week high. AMD sits 21.9% below.

Two consecutive red closes now, and down 12.5% over 30 sessions. AMD is 6.4% above its 90-day low with $452.35 in the way.

What kills this read: AMD reclaiming $462.12 while NVDA stalls under $227.95. That would make Wednesday a rotation day, and the divergence call goes in the bin.

Tomorrow

  • NVDA $227.95
  • AMD $452.35
  • MSFT $493.83