Sunday, Aug. 23: Friday left traders with a strange hand. The broad tape held up, but the AI leaders did not move as one. That split is the cleanest clue for the week ahead.
I watched the close with coffee in one hand and the options tape in the other. The market did not look broken. It looked selective. That matters with NVDA reporting on Wednesday, Aug. 26, after the bell.
Before Monday, the question is simple: is this a pause in the AI trade, or a handoff to the next winners?
The next move may be hiding in the gap between the stock leaders and the flow leaders. That is where the dashboard earns its keep before the opening bell.
Friday left a mixed AI tape
The dashboard snapshot from Friday was bullish at the index level: sentiment read 83.6%, the put/call ratio was 0.197, and 73 trades carried $130.2 million in premium. ETF/N led with $50.7 million. Tech followed with $32.8 million and a bullish split of 17 calls to 4 puts.
But the stock board was more selective. MRVL finished Friday at $237.04 and gained 1.2% for the week. NVDA closed at $214.72, down 4.6% for the week. AVGO closed at $368.45, down 6.1%. The Nasdaq proxy QQQ lost 2.3%, while SPY slipped 0.9%.
What the Alpha Dashboard sees
If you open the Alpha Dashboard now, its trend panel gives the story a sharper edge. MRVL and AVGO both score +100. NVDA is positive at +30.4, but it is not leading the trend list. The dashboard also shows a $1.8 million TSLA 370 call sweep for Sept. 18. That is the kind of setup worth tracking because it shows where size is showing up, not just where headlines are loud.
On my radar for Monday
- NVDA earnings: Wednesday’s report is the week’s main test of AI demand. Reuters notes the market is watching infrastructure and data-center guidance.
- AVGO financing: Broadcom was reported to be discussing a $70 billion to $80 billion debt package tied to AI infrastructure. That keeps custom silicon and funding risk in the same frame.
- Flow leaders: Watch whether MRVL keeps its +100 dashboard trend score, and whether NVDA can rebuild trend strength before earnings.
The market is still paying for AI. It is just charging a higher price for proof. This week, I want the stock move and the dashboard flow to agree before I trust the signal.
P.S. If NVDA earnings are the headline, AlphaX Options is the strike-map layer that can show where the pressure may land first: open the research desk here.
Trade Smart, S.E.A.L. Alpha Team
Market references: Reuters Friday market wrap and CNBC on Broadcom’s AI financing talks. Dashboard data observed Aug. 21, 2026.