Cramer: Pay Attention to the Technicals
While the stock market is greatly influenced by Europe's sovereign debt crisis, Cramer on Tuesday noted it's also swayed by technicals. For this reason, he recommends investors pay attention to the charts. He highlighted the technology sector in particular.
Most tech stocks have been hammered lately, Cramer noted, because they do so much business in Europe. The charts on most of these stocks are terrible, but a few are holding up, like Qualcomm . The wireless technology company owns most of the technology that enables 3G and 4G communications, so it's benefitting from increased demand for smartphones.
Cramer wanted to dive deeper into Qualcomm's chart, so he sought the help of Carolyn Boroden, a highly regarded technician on Wall Street. Check out the video to see his full report (above).
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