16,000 Held for Now

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At one point today the DOW was down well over 250 points trading near 16016. We saw significant buying right after lunch time and at around 2:30 this afternoon I had a buy signal on the market. It was a complete reversal and the DOW closed down only 75 points. I am looking for a pullback in the 15500-15900 range. I am expecting it to come sometime between now and October. The S&Ps got down to 1898 and then closed around the 1920 level, a huge reversal in the market. These reversals are a sign to me that the markets are trying to find a bottom. Today oil got down to the 43.5-43.7 range and then reversed back up closing in the 45 range. Oil as well is trying to find a bottom. I see no clear patterns currently and am staying on the sidelines until I see a clearer pattern. I told you gold was down and should make a higher low and it did. Today gold was up well over 20 dollars and closed above the key level of 1144 where gold would go positive on the daily charts. Gold closed up at 1153, 9 dollars above my key level. I am now looking for a pullback in gold and gold stocks to go long. I see a pullback happening in the next 5 business days. I am looking for an entry in the 1128-1138 range for a long pattern to a move above the 1155-1165 range.
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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.