Market Sell Signal

0
436
With today’s close of over a 300 point decline, I got a sell signal on the daily charts for the Dow, S&Ps, and Nasdaq. The markets are deeply oversold. The weekly charts in all 3 are rolling over and the MACD on the daily charts are negative. I am expecting some kind of bounce in the next 1-7 days working off the oversold condition. If that bounce occurs as expected I should get 2 negative divergences on the daily charts. I think we could bounce possibly to 2075-2080 area. The first gap on the SPY is at 201.92 today’s close was 204.98, so I would look for a bounce and I would look to get short the market. Oil today was down over 1.30 and oil need to hold the 46.93 number. If oil closes below that number then I would get a sell signal on the daily charts and a very high probability for oil to make new lows for the year. Oil could even trade down to the 35-38 level if not even lower. Gold was down 6 dollars today closing at 1160. I am looking for Gold to try and set up on the daily charts where I would look to short.
Previous articleMike Falco Interviewed with James Barbour
Next articleBob Burg & Grant Cardone
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.