November 2, 2024

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The charts indicate that the market will decline in the coming weeks

The charts indicate that the market will decline in the coming weeks

CNBC’s Jim Kramer said Tuesday that stocks may fall later this month and provide investors with an opportunity to add to their portfolios.

“The charts, as interpreted by Larry Williams, are that the bear market is somewhat… toast, and even if the current rally stalls, expect a big move either at the end of this month or the beginning of November,” Cramer said.

Stocks rose on Tuesday after the August job openings report Which indicated that the labor market is getting coldContinuing the rise from the previous trading session.

Cramer said Williams would not be surprised if the current rally fades, but he still believes there will be a significant bottom near the end of the month, followed by a rally during Election Day on November 8.

“In other words, he thinks you should be prepared for a great buying opportunity, even if the current move is cancelled,” Cramer said.

To explain Williams’ analysis, he first examined the chart of the S&P 500 futures contract in black. The chart also contains what Williams calls a true seasonal pattern in blue.

The Dow happens to have a double bottom followed by a rally at the same time as the S&P 500, which means there should be a massive buying opportunity, he said.

For more analysis, see Kramer’s full explanation below.

Watch Jim Cramer break down analysis of Larry Williams' new charts

Jim Kramer’s Investment Guide

Click here to download Jim Kramer’s Investment Guide No cost to help you build long-term wealth and invest smarter.