So as we come over to the gold market, we're getting a little bit of a correction. We've started off with the three percent break. So let's go back here. If we could this is how the market finished last week and now you're getting your first little break of the week. Don't know if it'll last or not, but starting down 2.96% on the daily chart, you can see how much gold fell. So, the gold market today really got hit hard; higher high, lower low, it broke the uptrend.
This is how the pattern was looking at higher lows, higher highs coming in today – I thought that the market didn't react, right? I wrote that, and I told people I said, 'I can't imagine more premium doesn't come out without of these markets.' and I was looking, would you take out that low? When you did that broke the uptrend in your sort of in the middle of nowhere right now, where do you think this market stopped on the break? Take a look at the 18-day average of closes, you know that I call that the line in the sand, from this point is often where markets gets to decide what they want to do next.
When we take a look at the Bollinger Band, well, you stopped running it. Once you go to the sidelines, you have to be leery. The market going to go up and take out these highs or revert and make a run to that number often it comes with a clue ahead of time from losing the bullish embedded reading.
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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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