Charts show stocks will face pressure through most of Q1 2020, Jim Cramer says

has rallied nearly 10% from early August. Technical analysis from stock trader Larry Williams, who created various market indicators including the Williams %R, suggests it may be peaking as investor sentiment takes a turn.

The VIX is widely known as the fear gauge — it goes down when investors are bullish and goes up when they are bearish — and Williams used the presumably cyclical measure to call the bottom in August, Cramer said. The VIX neared 25 points in early August and fell under 12 — its lowest point of 2019 — in late November.

Williams, Cramer said, also projected that the S&P 500 could undergo tough trading during much of the first quarter of 2020. He used the Dollar Index, which compares the strength of the U.S. currency to foreign money, as a stock price indicator to forecast a downward trend in equities, Cramer added.

Is he ever correct?

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