Higher Low Coming

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There was a lot of volatility today. There was weakness in the morning and then around mid-morning the S&P futures pushed up to the 2014 level. At around 12:30 I got a sell signal on the market and the market has been down since. Yesterday I stated that the S&P futures were 50 points away from the 10-bar moving average on the daily charts. Currently the S&P futures are down 14 and the overall market is only down about 50. I see clearly that the market is going to make a higher low. There are 55 more business days until the end of the year. I see another 1-3 days to work off the overbought condition before trading up higher next week. Oil is currently trading at the 46.60-46.70 level. I am looking for a pullback in oil in the 44.50-46.50 range. I am looking to buy UWTI, a stock which goes tick for tick with oil, in the 9.50-11.50 range. Once this pullback occurs in oil I am looking for it to push back up above 50. Gold is trading in a range. Gold got down to 1151 this morning before trading back up to 1163. I am looking for a pullback in gold along with a severely oversold condition. Once gold becomes oversold on a pullback I would be looking to buy gold stocks such as AUY (Yamana Gold), KGC (Kinross Gold), ABX (Barrick Gold), and NEM (Newmont Mining).
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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.