Watch the Financials

The setup off expiration is bullish. The key futures, the oils, gold and natural gas are positive. The weaker U.S. dollar plays into the trend, not the countertrend that's been going on.

That could be an exciting change because what you see when you get that is an attack to higher strikes by the minerals and oils to go along with the mounting rallies in the soft goods, and I don't think those moves will be repealed because those stocks have already made it to their strikes.

Perhaps the most important battleground is the banking sector. That group showed life into the close and is biding time. The secondaries are all done, but the earnings visibility is still unclear.

That's the group to watch, with JPMorgan Chase (JPM - commentary - Trade Now) being the tell.

At the time of publication, Cramer was long JPMorgan Chase.

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Know what you own: Other money center bank stocks include Wells Fargo (WFC - commentary - Trade Now), Bank of America (BAC - commentary - Trade Now), Royal Bank of Canada (RY - commentary - Trade Now), Toronto-Dominion (TD - commentary - Trade Now), Bank of Nova Scotia (BNS - commentary - Trade Now) and Bank of New York Mellon (BK - commentary - Trade Now).

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