TheStreet.com TV Recap: Tech Relief

"There's a perception, colored by the bears, that short rates are deeply connected only to inflation and growth," Cramer said. "But what they don't realize is that it's entirely possible to have growth with little inflation and the Fed wants to stoke that, not take it away."

"When the short rates are this high vs. the long rates, the Fed, I believe, is inclined to want to take short rates lower," he continued.

Moreover, Cramer said his Dow target comes from the belief that the market will weaken midyear, which will cause the Fed to cut rates, after which the market will accelerate to the end of the year.

As the market is "heading into the valley now," he said he's "adamant" people should sell tech because he believes it's "too hard to own through the valley."

Stocks like Kimberly-Clark and Bank of America (BAC Quote), however, are not too difficult to own, Cramer said.