The 7,600 level in the S&P 500 (SPX) is catching Nathan Peterson's attention Wednesday in gauging the current health of the stock market. Breadth is another point of concern as he sees investors overlooking rising crude oil and Treasury yields for an evolving AI buildout. Jim Ferraioli discusses seasonality of the crypto space to equities and the typical weakness both see in September. However, Bitcoin's "extreme short squeeze" in August didn't see a slowdown in futures contracts, something Jim points to as bullish for cryptocurrencies.