A 3.8 percent rally tomorrow in the Standard & Poor’s 500 Index would create a pattern that may result in a “sharp decline” a day later, according to Tom DeMark, the creator of indicators for identifying turning points in securities. “Tomorrow is a very important day for us,” DeMark said in an interview on Bloomberg television’s “Street Smart” hosted by Lisa Murphy and Adam Johnson. “We’ve just got to monitor closely tomorrow’s trading. If it’s very strong and if the news on Friday is either positive or negative, we could have sharp decline to undercut yesterday’s low.”
“Mad Money” host Jim Cramer takes a look at technical analysis from longtime analyst Tom DeMark.