{"id":140885,"date":"2021-10-06T01:48:36","date_gmt":"2021-10-06T01:48:36","guid":{"rendered":"https:\/\/precoinnews.com\/?p=140885"},"modified":"2021-10-06T01:48:36","modified_gmt":"2021-10-06T01:48:36","slug":"charts-suggest-sp-500-is-seeing-a-temporary-rally-and-more-downside-may-be-ahead-cramer-says","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/charts-suggest-sp-500-is-seeing-a-temporary-rally-and-more-downside-may-be-ahead-cramer-says\/","title":{"rendered":"Charts suggest S&amp;P 500 is seeing a temporary rally and more downside may be ahead, Cramer says"},"content":{"rendered":"<ul>\n<li>CNBC&#x27;s Jim Cramer said Tuesday that technical analysis fromCarolyn Boroden suggests the S&amp;P 500 may be the midst of a temporary bounce. <\/li>\n<li>&quot;Until we get Boroden&#x27;s favorite moving average crossover, she can only see this rebound as a bit of a relief rally,&quot; the &quot;Mad Money&quot; host said.<\/li>\n<\/ul>\n<p>Charts suggest the S&amp;P 500 may be the midst of a temporary relief rally after weeks of tough sledding on Wall Street, CNBC&#x27;s Jim Cramer said Tuesday.<\/p>\n<p>The &quot;Mad Money&quot; host&#x27;s comments came after the broad equity index jumped 1.05%<strong> <\/strong>Tuesday, rebounding from a technology-driven sell-off in the prior session.<\/p>\n<p>&quot;The charts, as interpreted by Carolyn Boroden, suggest that today&#x27;s bounce might not be the end of the relief rally because we were due for a reversal, even if it&#x27;s a temporary one,&quot; Cramer said.<\/p>\n<p>Boroden, a technician who runs FibonacciQueen.com, believes the S&amp;P 500 &quot;could still be vulnerable to more downside,&quot; Cramer said. &quot;But \u2014 and this is a very big but \u2014 it also looks due for a tradeable low right here, right now.&quot;<\/p>\n<p>The reason Boroden thinks that is because she&#x27;s identified a cluster of seven Fibonacci timing cycles that are set to come due between Tuesday and Thursday, Cramer explained. That technical indicator suggests the S&amp;P 500, which has struggled in recent weeks, could change trajectory, he said.<\/p>\n<p>&quot;Again, though, she&#x27;s only looking for a temporary countertrend rally and not an actual bottom,&quot; Cramer said. &quot;Even that isn&#x27;t guaranteed,&quot; he cautioned. &quot;Just because we&#x27;ve got a bunch of Fibonacci timing cycles coming due at the same time doesn&#x27;t necessarily mean the S&amp;P will make a low and reverse course.&quot;<\/p>\n<p>Cramer said Boroden will only start to put her faith in a more sustained rebound until she spots a solid buy signal, which for her is when the five-day exponential moving average crosses above the 13-day exponential moving average.<\/p>\n<p>&quot;That just hasn&#x27;t happened yet, and it would take a few more days of upside to even get close,&quot; Cramer said. &quot;Until we get Boroden&#x27;s favorite moving average crossover, she can only see this rebound as a bit of a relief rally. That said, even if we can&#x27;t shake the broader decline, she&#x27;s convinced that we&#x27;re due for a bounce and today may be just the beginning. I think she&#x27;s making a compelling point.&quot;<\/p>\n<p><em>Sign up\u00a0<\/em><em>here<\/em><em>\u00a0for the new CNBC Investing Club newsletter to follow Jim Cramer&#x27;s every move in the market, delivered directly in your inbox.<\/em><\/p>\n<p>Disclaimer<\/p>\n<p>Questions for Cramer?<br \/> Call Cramer: 1-800-743-CNBC<\/p>\n<p>Want to take a deep dive into Cramer&#x27;s world? Hit him up!<br \/> Mad Money Twitter &#8211; Jim Cramer Twitter &#8211; Facebook &#8211; Instagram<\/p>\n<p>Questions, comments, suggestions for the &quot;Mad Money&quot; website? madcap@cnbc.com<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/10\/05\/jim-cramer-charts-suggest-sp-500-is-seeing-a-temporary-rally.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNBC&#x27;s Jim Cramer said Tuesday that technical<\/p>\n","protected":false},"author":3,"featured_media":140884,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Charts suggest S&amp;P 500 is seeing a temporary rally and more downside may be ahead, Cramer says - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/charts-suggest-sp-500-is-seeing-a-temporary-rally-and-more-downside-may-be-ahead-cramer-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Charts suggest S&amp;P 500 is seeing a temporary rally and more downside may be ahead, Cramer says - 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