You're down $101.80 so far for the week. So you're down about $7 tonight. So that just gives you an idea where you're at, Now, got to pay attention to this 18-week moving average. It has been a supportive number. Will it continue to be is the big question. Normally you hit it and bounce, but if you come back and you hit it in rapid succession, it doesn't have to bounce. You got to be careful right here.
When we take a look tonight, you can see you're down $8 in the gold market. And what I'm looking at is to see just where the markets are. If we come back a day here, which we can do, we were down $93.70 - one day. So that's the biggest break since November of 2020. I went back and I was reading about it. I didn't look up the stats on it, but that's what I read and I'm going "Wow, that's one heck of a break". You can see what the market did, and how it felt back, and it's continuing to fall.
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.