Bulls, enjoy the next two weeks.
Why? Well, according to “renowned trade expert” Larry Williams and his reading of this chart, the end of the month could also mean the end of the rally.
CNBC
Williams focuses on seasonal market patterns to chart its course, noting that July tends to be a bullish month for stocks. So far, it lives up to its historical turnover.
CNBC’s Jim Cramer highlighted the chart during his “Mad Money” show on Tuesday.
“The charts, based on the interpretation of the legendary Larry Williams, suggest that the S&P could rise another 4% or 5% in the next two weeks, but on July 28, it expects the market to start rolling,” he said. “Given that Washington Extended Unemployment Insurance benefits expire at the end of the month, well, I wouldn’t be surprised” if your call turns out to be correct.
For more information on the table, check out this clip:
Cramer did not offer much information on how serious the setback that will affect investors if it makes ends meet or when it does, except to say, “It is probably too early to tell, but [Williams] He suspects the rollover is going to hurt, because too many people “are too long on equities.
Not much pain in the Wednesday market, with the DIA Jones Industrial Average DJIA,
, S&P 500 SPX,
and Nasdaq Composite COMP,
all logging profits.
.
