When we look at the gold market for the week so far—remember it's just begun—we're up at 10th of a percent, and the market is under the 18-week average. So the bias of the market as I define it is to the downside.
When we look at the charts here without any type of numbers on it or anything important, you had a heck of a break, the market gave you a bounce and you're pulling back but it's not in a trend. You have a high that is higher than a prior Hhgh and low that took out a prior low.
The market's unable to make it back to the 18-day average. So it's been doing the fighting in this case at the 100-day average. Do you see that? I don't see anything on this chart just yet on a chart picture that would turn me to the bull's side. If the market collapsed, $2542 is in the picture.
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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.
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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.