“Unlike him, I also believe we could get a sharp spike up, but, for our Charitable Trust, if that happens we’re going to have to do some selling,” he added.
The S&P 500 closed out its worst month since March 2020 on Friday. The Dow Jones Industrial Average tumbled 8.8% for the month, while the Nasdaq Composite dropped 10.5%.
Before getting into Sebastian's analysis, Cramer first explained that when the S&P 500 goes lower, the CBOE Volatility Index, also known as the VIX or fear gauge, typically moves higher. And when the S&P moves higher, the VIX typically goes lower.While the S&P and VIX moved at the same pace in June, things took a turn in August.
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