Veteran Technical Analyst Larry Williams Sees a Market Bottom in the Making, Jim Cramer Says

Williams views the advance/decline line as an indicator of the market's internal strength or weakness, according to Cramer.

He noted that that pattern – when an important indicator goes the opposite way of an index – is called a bullish divergence."According to Williams, this action in the advance/decline line is incredibly positive for the market. It tells you that, from the perspective of breadth, the worst of this decline may be behind us," Cramer said.

He noted that the on-balance volume index is a cumulative indicator that measures volume flow by adding the volume on up days and subtracting on down days. 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.

So did Larry say it or Cramer?

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The technician who called the 2020 market bottom says a 'shocking rally' is in storeThe technician who called the 2020 market bottom says a ‘shocking rally’ is in store Yeah there will probably be an ok rally but date it, don't marry it Rally in stocks perhaps. Crude reaching its high in 4 days. That is not going to happen Not yet though. In end of 2023.
Source: MarketWatch - 🏆 3. / 97 Read more »

Jim Cramer gives his take on which retail stocks are investableThe 'Mad Money' host said that while the retail space is beaten down, there are still some winners that investors should consider adding to their portfolios in Friday's episode of the show. Short them all. Got it. What if Cramer is actually doing this on purpose? Give shit recommendations so that we do the opposite? Maybe he is helping out retail. Thanks Cramer. Walmart and Burger King
Source: CNBC - 🏆 12. / 72 Read more »