Stocks and Bitcoin jumped on Wednesday as investors raised their level of confidence that the Federal Reserve’s interest rate increases are effectively containing inflation. The host of CNBC’s Mad Money, Jim Cramer, is relying on charts created by well-known trader Larry Williams in an effort to see a “sustained rally.” Cramer looked at the daily chart of the S&P 500 from the end of 2021 to the beginning of 2022 to explain Williams’ analysis.
Jim Cramer claims that 24-day rallies occurred in the second half of 2022 in July, August, and from mid-October to mid-November. He went on to say that this rally “should” last until February 3rd, 2023. For this to be feasible, the pattern must hold, and if it does, the current rally may last past the given deadline. He further stated, Williams believes that the current market is in the early, choppy stages of a bull run.
