Weak Retail Sales Prompt Equity Rally

At 8:30 this morning we had weaker than expected retail sales. Around 10:00 the market started to have a significant bid to it and pushed higher. Currently the DOW is up over 200 points. I have been saying since January that I did not believe the Federal Reserve would raise interest rates in 2015. The Federal Reserve is currently meeting and will be releasing their minutes Thursday. The weak retail sales are another reason for the Federal Reserve to not raise interest rates in addition to the IMF (International Monetary Fund) asking them not to raise interest rates. The Federal Reserve knows that if they do raise interest rates there will be significant volatility in the market. I stated I was 75%-80% sure that the lows are in for the year at 15379. I was hoping for one more pullback to 15500-15800 and we got down to 15979. Gold and oil are doing nothing. I have been looking for oil to pull back into the 39-43 range where I would be looking to buy oil and oil stocks. Oil got down to the mid 43 range yesterday. Gold is in a range of 1100-1110, I don’t see anything going on with gold. I have sell signals on the weekly and daily charts for gold.
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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.