When we go to the chart action and that's where I want us to head now. Gold on that one correction down held nicely, and this week has been spent going up and we are for the week up, 4% percent. So that is impressive. It's been a neat correction from the $2550 area, back to about a 50%, not quite there from this break low. This is one of the reasons I think the market is stalled.
You still have the pattern of lower highs and lower lows. The market rallied to the 18-day average. If you take a look at the 50-day[moving average], you'll also see that's a resistance point. So far what has happened: The first break to the hundred-day average held. Now the first rally back into the 18[-day average] is restraining, the market at this point, the Bollinger Band, which we got under in that.
The free fall that the market had has come back, but the market hasn't regained that oomph it had. When you first heard back here, that Trump had won the presidency in the market was running. I think you'll remember if anything the market peaked out and came down on the Trump presidency.
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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.
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