Oil Decline Hurts Stocks

At one point today the DOW was down well over 100 points, trading again at the 16200 level. The market dropped due to the significant decline in oil. Oil was down over 1.70 trading near the low 44 range at one point. The oil inventory numbers were bullish but the diesel corruption scandal in Europe caused oil to fall. At around 12:30 there was a report that the Volkswagen CEO resigned and the S&Ps shot up. I am 75%-80% confident that the low of 15379 is in for the year. I see a lot of volatility in the next couple weeks and I am looking for a pullback to make a higher low in the 15500-15900 range where the gaps in the market should get filled. It was a very wild day in oil. Oil shot up to around the 46 level and then fell down to the low 44 range. I do not see any clear patterns in oil right now. Gold was up well over 6 dollars today, now trading at 1131. I see gold making a higher low and then eventually I expect the 1144 level to get taken out. If the 1144 level is taken out on a daily basis I would then be looking for a pullback in gold to go long.
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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.