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Charts Suggest the Market Is Poised for an August Rebound, Jim Cramer Says

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“Markets bottom when the hedge funds throw in the towel and the public throws in the towel,” Cramer said.

CNBC's Jim Cramer on Monday said that the market could have a strong rally through late August, pointing to analysis from legendary market technician Larry Williams.

"Markets bottom when the hedge funds throw in the towel and the public throws in the towel. And based on the history, he suspects that's exactly what's happening right now," Cramer said. CNBC's Jim Cramer on Monday said that the market could have a strong rally through late August, pointing to analysis from legendary market technician Larry Williams.about the broader averages in late May, he predicted that after some choppy trading the market would have a strong rally through late August. Right now, what he's seeing in the futures confirms that thesis," he said.

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