02/04/2026

Is the Market Topping? S&P Rejection, Russell vs Nasdaq Trade & Rising Yields

The market looks fine… until you zoom out. In this monthly segment of Futures Edge, Jim Iuorio and Bob Iaccino sit down with Mike Arnold (UnfilteredInvestor.com) to break down the technical cracks forming beneath the surface—from repeated S&P price rejection and a weakening Nasdaq, to violent swings in silver and a fresh Percent B “buy” setup in gold.


Inside this episode:

- Why the S&P rally is struggling to push higher (momentum fading + rejection near key zones)

- The weekly double-top risk and what a break could mean for a multi-week pullback

- Nasdaq weakness vs S&P strength — the levels that matter and what would confirm a bigger correction

- The Russell vs Nasdaq theme (and why “catch-up” could define 2026)

- The Percent B Buy indicator explained (what it is, how it triggers, and how they use it)

- Silver’s parabolic run → brutal drop: why vertical markets end fast, and what would rebuild bullish probabilities

- Gold’s Percent B buy signal: upside targets, rollover zones, and where risk management kicks in

- Crude oil breakout setup + next targets (and why the upper 60s can be “economic sweet spot”)

- Under-the-radar AI/tech fatigue: names like Broadcom, Nvidia, Microsoft, Adobe, CRM and what the charts are signaling


If you trade, invest, or just want a cleaner read on what the market is actually doing (not what headlines say), this is the roadmap.


Timestamps:

00:00 Intro + sponsors

02:30 S&P: momentum fading + key weekly level

07:30 Percent B Buy: how the signal works

15:50 Russell: head & shoulders + what invalidates downside

18:30 Russell vs Nasdaq ratio trade (2026 theme)

22:00 Nasdaq: breakdown zones + what would flip bullish

26:20 Silver: overextension, rollover zones + key reclaim level

34:10 Gold: Percent B buy signal + targets and stops

38:20 Crude: breakout, pullback longs, next upside targets

55:30 10Y/30Y yields: inverse H&S + what’s next

56:00 AI/tech under the surface: AVGO/NVDA/MSFT/ADBE/CRM


Disclaimer: This content is for informational/educational purposes only and is not financial advice.


Follow along on social media: 

Twitter:    https://x.com/bob_iaccino

Twitter:   https://x.com/jimiuorio

LinkedIn:  https://www.linkedin.com/in/bob-iaccino/

LinkedIn:   https://www.linkedin.com/in/james-iuorio/

Newsletter:  http://theunfilteredinvestor.com/


This episode is sponsored by: 

Independence Ark: https://www.independenceark.com/

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AmerGold https://www.amergold.com/

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