Mad Money: The S&P 500 ‘could get ugly’ in the near future

July 1, 2020 — “If it can’t break through last week’s highs at 3,100,” Cramer said, “Boroden thinks you need to prepare for pain because the near future could get ugly.”

The 13-day exponential moving average is currently above the 5-day, which reflects slowed momentum. This is not a call, however, for investors to give up on their holdings. When the market stages a rally and the 5-day and 13-day averages inverse, it will trigger bullish activity on Wall Street, Cramer said.

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