Veteran technical analyst Larry Williams sees a market bottom in the making, Jim Cramer says

Veteran technical analyst Larry Williams sees a market bottom in the making, Jim Cramer says

May 20, 2022 by CNBC

Key Facts

  • The futures line is in black and the advance/decline line, a cumulative indicator measuring the number of stocks going up on a daily basis versus the number going down, is in blue, Cramer said.
  • And because the on-balance volume line has held up despite the S&P reaching new lows, the chart is consistent with what Williams would expect to see in "a down market where some major money managers have finally just started buying stocks more aggressively," Cramer said.
  • "Look at the bottom of the chart – this is Williams' … commitments of traders index, which shows you what professional money managers are doing with their futures positions," Cramer said.
  • "Right now, that cycle says the S&P is ready to run … and if the cycle holds, Williams would expect it to keep running through mid-to-late June," Cramer said.

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