'Mad Money' host Jim Cramer analyzes charts from technician Larry Williams that offer insight into how gold and the S&P 500 may trade this month.
"Remember, during the original debt ceiling debacle a decade ago, the stock market broke down and ... gold did great," Cramer added, alluding to the fact a two-year suspension of the debt ceiling expired at the end of July and Congress now needs toLooking at the S&P 500, in particular, Cramer said Williams sees diminishing breadth when tallying the number of advancing stocks versus declining stocks.
"For Williams, that suggests lots of big money managers must be selling many of their positions. He says he's seen this pattern before and it's not healthy. Normally when stocks rally, the Advance/Decline line should be making new highs. But that's not happening and it means this move could have feet of clay," Cramer said, while disclosing Williams has taken a "small" short position in the E-mini S&P 500 futures.
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