Carmer said "the charts, as interpreted by Mark Sebastian, suggest we are due for a bit of a pullback."
The S&P 500 in the past five trading days has expanded 5%. The VIX index initially fell from nearly 19 points, which Cramer called "textbook rally action." However, the volatility measure has hovered in the high 15-point to low 16-point range since Thursday's session as the S&P kept climbing. Sebastian, Cramer explained, does not expect the market to dive as dramatically as it did in January 2018. Still, there's reason to be cautious.
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