The charts show that the market is in for a “bumpy road,” says Jim Cramer.

CNBC’s Jim Cramer warned investors on Tuesday that the market’s volatility is likely to continue as its recent gains ease.

“The charts, as interpreted by Jessica Inskip, suggest that the broader market may struggle as we exit the bear market rally,” he said.

Stocks tumbled on Tuesday, extending losses in the previous session on fears that the Federal Reserve will trigger a recession in the economy next year, despite comments by Chairman Jerome Powell last week that the bank could start slowing down its rate hike this year. month.

Cramer said Inskip, which predicted last month that the market’s recent rally could last into mid-December, is seeing signs of trouble. To explain her analysis, he studied the S&P 500 daily chart.

Inskip believes the market’s rally from mid-October through the end of last week was a bear market rally — in other words, a temporary bounce in a broader downtrend, he said.

He also reminded investors that the market depends on the Fed’s interest rate hike, and the central bank’s inflation strategy depends on the labor market.

When the hotter-than-expected November labor market report was released on Dec. 2, the S&P failed to clear two key resistance ceilings.

“Inskip believes we are back in bear market mode,” Cramer said. “The S&P could still get away from this new trajectory, but it won’t have much confidence in a rebound if we don’t break last Friday’s levels.”

For a more detailed analysis, see Cramer’s full explanation below.

Watch Jim Cramer break down the latest chart analysis from OptionsPlay's Jessica Inskip.

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