7 Business Days Left to Get Into Positive Territory

Dow Jones Industrial Average At one point early in the morning today the Dow Jones Industrial Average was up over 100 points. By late morning the Dow Jones Industrial Average had given back the gains and was down small. The Russell 2000 was somewhat lagging and the NASDAQ had some strength. By around 1:30-2:00 the Dow Jones Industrial Average started stabilizing and then at 3:30 exploded, closing up 123 points. The Dow Jones Industrial Average is somewhat oversold after being down over 650 points on Thursday and Friday. With 7 business days left until the end of the year, I am expecting the S&P futures to get into the 2040-2090 range equating to the 17500-18000 range in the Dow Jones Industrial Average. I have been stating that if I was a long term investor I would look to sell and be 100% in cash if the Dow Jones Industrial Average gets into the 17800-18400 range. A couple weeks ago the Dow Jones Industrial Average got above the 17800 level before trading down to 17100. There is a lot of volatility and I expect more volatility in 2016. I think there is a very good chance that the Dow Jones Industrial Average could retest the lows of 2015 in 2016. Crude Oil Today crude oil continued to trade below 35 dollars a barrel. There are no clear patterns in crude oil. It is very good for the consumer that heating oil and gasoline are pushing down to new lows. Every time crude oil tries to lift its head it is met with heavy selling. Gold Today gold traded above the 1081 level. At the end of the day gold pulled in about 5 dollars off of the highs of the day. Gold is starting to get somewhat overbought. If gold gets into the 1090-1100 range I would look to get short. Gold is in a range between 1040 and 1090.
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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.