So let's take a look at gold and the question I've had and I'm going to stay with: Is this break going to culminate and get down to the 18-week moving average of $2014.40? Or is it going to try to turn itself up? For the week and please understand where you're at for the week – you're down 0.19% – a fifth of a percentage point; you've gone nowhere...and what I've tried to point out and the best way that I know how is there's nothing going on and I know people want to watch this in hear me get all excited about a market, one way or the other.
This is watching paint dry right now. Maybe tomorrow's event with the inflation will have something to do. I don't know. When I look at the trend, the trend is higher lows but lower highs. You do see that right there. So the market is very stable, not really going anywhere. The battleground's (could I draw at any better?) look at the red line, it's the 18-day average of closes just going sideways.
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.
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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.