A Push To Close Above 16,000

Today there was a significant amount of volatility. At one point the DOW got down to 15942 before closing at 16049, up 47 points on the day. The S&P futures got down to 1861 and rallied sharply into the last 20 minutes closing at 1874. The market is looking to make a bottom here, a higher low. I am 75-80% certain that the low of 15379 will hold for the year. I am looking for a higher low in the 15500-15900 range. I see another 1-3 weeks of volatility before seasonality comes in and the market can start trading higher, erasing a lot of the loss for 2015 and possibly even inching out a small gain by years end. Oil has a very key number of 44.10 on the daily charts. Oil has been trading in the mid 40s and closed above 45 today. If oil closes below the 44.10 level I think it will be in some trouble. If the key number is taken out of a daily basis I expect a 3-4 dollars bounce before we could possibly retest the lows for the year. Today gold was down 2-3 dollars, trading as high as 1131 and then closing around 1127. After gold traded above 1144 on a daily basis it traded up to 1153. I called for a pullback in the 1127-1135 range. I think gold has one more push up, however long term I am bearish on gold and I don’t see it going anywhere between now and the end of the year, especially with talks of the Federal Reserve raising interest rates in 2016. I do not see the Federal Reserve raising interest rates between now and the end of the year.
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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.