'You could get a good chance to unload some tech here in order to raise money to buy other things,' the 'Mad Money' host said.
CNBC's Jim Cramer on Wednesday said the Nasdaq 100 could reach a low this week and give investors a chance to offload some poorly performing stocks, leaning on analysis from technical analyst Carolyn Boroden.
"The charts, as interpreted by Carolyn Boroden, suggest the Nasdaq 100 could make an important low sometime this week — and maybe it's already happened. If that's the case, then the recent" market storminess could be over for the time being, the ""However, you might not want to get too attached to this move because Boroden says the underlying technical picture … remains ugly.
"That said, according to Boroden, while these Fibonacci timing cycles are certainly helpful … we only get an actual reversal of the trend about 60% of the times when we see these reversal signals," he added.
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