This episode of Traders Edge is a genuinely dense, technically rich session built around one central question hanging over markets that week, whether the bounce off recent lows is a real recovery or just a relief rally. Jim Iorio and Bobby bring on Mike Arnold, chief technical strategist at Path Trading Partners, to walk through the evidence chart by chart, and the show quickly settles into what these two hosts do well, taking a somewhat wonky technical concept and making it useful for viewers who might not otherwise sit through a Bollinger Band tutorial. The nickname floating around for the recent low is the Leopold lows, and Mike uses it as the jumping-off point for a detailed explanation of his percent-B buy setup methodology, a five-period Bollinger Band read off the high-low-close average that flags a bar closing below zero followed by a trigger bar closing above that setup bar’s high, confirmed only on a weekly or full-session close so traders aren’t reacting to noise mid-day.

Applying that framework across the major indexes gives the episode its backbone. The S&P has support around 7541 with harmonic resistance clustered near 7791, 7800, and 7820, and if it clears that zone, Mike’s next major target sits closer to 7950. The Nasdaq’s daily percent-B buy trigger already fired, with a first target of 30,026 that got hit and a next target up near 37,497, a level that sounds aggressive until you see the chart structure behind it. The Russell 2000 gets similar treatment on the weekly timeframe, with a buy trigger above roughly 2986 opening up sequential targets at 3027 and 3047, both of which were also hit, with support sitting around 2996 to 2997 if the rally stalls. What makes this more than just a list of numbers is the broader argument Mike and the hosts build around breadth, specifically pushing back on the idea that the Nasdaq’s strength is still just four or five mega-cap names doing all the work, using SpaceX and AMD’s earnings-day moves as a counterpoint showing wider participation.

Two live trade walkthroughs give the episode a hands-on, teaching-moment feel that’s easy to actually learn from. The first covers URA, the uranium ETF, where Mike uses a buy-stop order at 41.54 to demonstrate exactly how a stop-in and buy-stop-limit order work mechanically, something a lot of newer traders use without fully understanding, targeting 41.43, 44.38, and 45.23 to 45.30 while framing the position as a stepping stone from a short-term trade into a longer-term investment, similar to how the group previously handled XLV. The second example, LPLA, is a stop-in-and-reload lesson, entered at 334.42, stopped out the same day at 331.72, then re-entered at the original 334.42 level with upside targets at 364.95 and 382.66, a clean demonstration that getting stopped out isn’t necessarily a reason to abandon a thesis if the setup that triggered the entry hasn’t actually changed.

The back half of the show pivots to precious metals and currencies, where the thesis gets genuinely interesting. Silver and gold’s recent breakout is tied directly to a yen intervention story, the idea that the US Treasury is quietly supporting the yen to keep Japan from needing to sell its US Treasury holdings, with gold’s first target sitting at 4,400 and a stretch target of 4,500, key support at 4,150. Gold miners including GDX, Newmont, Barrick, and Anglo Eagle are all showing inverse head-and-shoulders patterns that support the bullish case, while Hecla Mining gets a separate mention for its silver-hoarding-as-strategy angle. The 10-year Treasury yield falling roughly 16 basis points in three days down to 4.61% gets flagged as a potential double top, and the dollar-yen pair has support at 155 to 156 with resistance at 158 and an upside target of 160, all wrapped around Treasury Secretary Scott Bessent’s now-famous napkin reminder to buy five billion yen. The episode closes on a Bitcoin range-bound setup needing a weekly close above 67,264 to validate a double bottom, plus a sobering real-world story about the Coldcard hardware wallet firmware flaw that disabled a randomization function and left roughly 1,816 Bitcoin, worth about $117 million at the time, vulnerable to theft, a reminder that even in a bullish setup, security fundamentals still matter as much as chart patterns.