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NEW YORK ( TheStreet) -- Don't get used to today, Jim Cramer warned his "Mad Money" viewers Tuesday as he opined on the first up day the markets have seen in a while.
Cramer said the bulls won't come out in force until they see that good news isn't sending interest rates up sharply, and that isn't happening quite yet.
Cramer explained that for years the markets have grown accustomed to a Federal Reserve that was determined to keep interest rates low so our economy could recover. But with so many data points like new home sales and consumer confidence picking up steam, the Fed can no longer afford to keep rates near zero.But investors aren't prepared for this new reality, said Cramer, as many are still invested in the wrong types of stocks and are simply waiting for any strength as an opportunity to sell. This trend will continue until good news doesn't immediately send interest rates sharply higher, as they did today. So while the markets may have looked strong at today's close, there were still several times throughout the day that they were on the cusp of breaking down, Cramer cautioned. That's why investors need to remain vigilant and keep one eye on interest rates and the other looking for bargains in stocks.