The analysis discusses the NASDAQ (NQ1!), S&P 500 (ES1!), SPY, QQQ and Circle Internet (CRCL) charts. There will be consolidation in the markets before the Jackson Hole event. NQ1! is consolidating around the 24,000 price point and breaking down. The speaker indicates that unless NQ1! can reclaim 23,850, it will test lower to 23,600. The ES1! is consolidating and failing to create higher highs. If the ES1! stays below 6470, it'll test lower to 6450. The SPY is in a tight range, and if it breaks below 643.50, it'll find support at 641.41 and 639.33 before testing 638.00. The QQQ is tight between 577.81 and 574. A break and retest below this range opens the door to a test of 570. The analyst looks at Circle and notes it sold it short on the 140 strike and is targeting a test of 120. Alternatively, if there is a double bottom at around 135 the stock will have support to test higher.