Jim Cramer says 3 things are preventing the market from having a sustained rally
Cramer pointed out that the market has seen some sporadic one-day rallies recently, but they’ve always been felled by three things.
Russia’s invasion of Ukraine is ongoing.
China’s still under Covid lockdown.
Inflation driven by work-from-home is still up.
He also said that the market is still incredibly oversold.
“The most impressive thing about today’s rally is that it happened at all. My feeling is that today’s bounce is all about sentiment getting too negative,” he said.
CNBC’s Jim Cramer on Monday said that Monday’s rally won’t last because none of the headwinds to the economy have abated.