The basic implosion taking place in China's economy in real estate and now shadow banking is like a slow-rolling disaster. It just seems to spread. We keep hearing new names popping up - large and midsized companies - one after the other having the problem. The government seems to be very good at creating a task force and doing nothing. Sort of like our president.
We are going to hear more about Trump this week because he's not going to participate in the presidential debates; instead he has said he will be interviewed by Tucker Carlson on X (Twitter.)
When you look at the gold weekly chart - are you going to make a run for 1852.80? It certainly has all the makings of it. It doesn't mean gold won't hold, but it's the only number I have to work with on a weekly chart.
When I go to the weekly chart of closes, the market is still down. You have the pattern of a higher high and a lower low. I don't see a trend.
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
Be it education, market information or trading platforms, we provide solutions.
Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.