Extreme Overbought Condition

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My work is showing me that the markets are extremely over bought on the daily charts. I would be looking for a pullback in the next 1-6 days. If that pullback occurs then I think that there would be some great patterns on the daily charts. Stocks like DIS and SBUX should set up. I had a sell signal in gold on my daily charts. I was looking for a bounce in gold near the 1250 area but never got to my level, so right now I am neutral on gold until better patterns set up. Oil as I stated I had a buy signal on my daily charts. As long as oil hold 46.14 on the daily charts oil should trade in a range. Today, oil was down over 1.50 then reversed to up over a dollar on the day before closing at 53.24. I see some danger being long oil stocks like CVX SLB HES all had huge moves and I would look to lighten up especially if they were bought a lot lower.
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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.