Jim Cramer, host of 'Mad Money,' took some pointers from volatility expert Mark Sebastian to understand why the market could sell off more.
"The bad news is that the charts, as interpreted by Mark Sebastian, suggest that today's rebound is just a temporary reprieve from what could be a bigger sell-off," the "" host said. "But once the last leg lower runs out, well, then, he thinks we could get a real, buyable bottom."
The VIX rose from the mid-20s to a peak of 39 as the S&P 500 slid nearly 4% over the last two trading days. The fear gauge, which typically runs counter to the market, pulled back to 34 on Thursday as the S&P 500 climbed more than 32 points to 2,852.50 at the close.
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