Jim Cramer takes a look at chart analysis by DeCarley Trading's Carley Garner to determine if there is a buying opportunity in the future.
"The charts, in a completely contrarian way as interpreted by Carley Garner, suggest that a lot of people are anticipating a more lenient Fed," CNBC's Jim Cramer says.
Stock traders speculating that the Federal Reserve will cut interest rates this year could be making a "very risky bet," CNBC'sCramer perused Fed Funds Futures analysis by Carley Garner, co-founder of the DeCarley Trading futures brokerage firm. Fed Funds Futures financial contracts are used to predict changes in short-term interest rates.
A futures recording just shy of current levels would mean that investors expect the Fed to maintain its current monetary fiscal policy, Cramer said. The index shows an 80% chance of at least one rate cut, while a handful of traders are expecting as many as three, he said. The long-term bond ETF has a "powerful" ceiling of resistance at $129 and Garner thinks it could slip below $125 and potentially as low as $118 if it fails to hold, Cramer said.
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