Charts suggest the market has more upside through the end of the year, Jim Cramer says

Charts suggest the market has more upside through the end of the year, Jim Cramer says

CNBC’s Jim Cramer on Monday said that the market could see a rally later this year that lasts through the end of 2022.

“The charts, as interpreted by Larry Williams, were able to call this incredible October rally. … And now he says that this market’s likely got even more upside even through the end of the year,” Cramer said.

Stocks fell on Monday but saw a major comeback in October. The Dow Jones Industrial Average gained 13.95% in its best month since 1976. The S&P 500 and Nasdaq Composite increased about 8% and 3.9%, respectively, in October.

To explain Williams’ analysis, Cramer first examined the chart of the Dow Jones Industrial Average futures in black, and Williams’ true seasonal pattern in blue. 

This chart is an updated version of what Williams used earlier this month when accurately predicting October’s rally, and suggests there could be a tremendous rally, according to Cramer.

“That true seasonal pattern is based on the historical pattern at any given point in the year, and it predicted a monster run through mid-November. And it suggests we’ve got another leg higher through the end of the year,” he said, adding that there will be a pause between the rallies.

He then examined a chart that shows the action in the Dow through last week, along with Williams’ long-term cycle forecast in red.

The cycle forecast confirms the bullish previous seasonal forecast in the previous chart, according to Cramer.

“Bulls be prepared, bears beware,” he said.

For more analysis, watch Cramer’s full explanation below.

Watch Jim Cramer break down fresh charts analysis from Larry Williams

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.


Source link

About rtsuggests

Check Also

NFL nearing rights deal with Google’s YouTube TV for Sunday Ticket

New England Patriots tight end Hunter Henry (85) celebrates his touchdown run against the Cleveland …

Leave a Reply

Your email address will not be published. Required fields are marked *

About Us | ccpa california consumer privacy act