S&Ps 72 Handles Away From Moving Average!

Markets made a new high today all because the federal reserve stated that they will not rush to raise interest rates. The markets are extremely overbought. They need to pull back on the daily charts and should have a pretty good pattern for a buy entry for intermediate traders. Still if I were a long term investor, I would use this rally as a way where I would lighten up. Oil and gold did zero today. Gold is negative in daily charts and oil needs to hold above the 46.70 level on the daily charts. To recap: we are 72 s&p handles away from one of my 10 bar moving averages and my work has shown me that at that distance the market needs to catch a breath and pause and pullback.
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CEO of Cardone Enterprises, Cardone Capital, international speaker, entrepreneur, and author of The 10X Rule & creator of 21 bestselling business programs, Grant Cardone owns & operates seven privately held companies and a $5.2 billion portfolio of multifamily properties. Named the #1 marketer by Forbes Magazine, Cardone is also the founder of The 10X Movement & The 10X Growth Conference, the world’s largest business & entrepreneur conference.


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