Cramer's 'Mad Money' Recap: The Market Displays Its Resiliency

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"The resilience in today's market was quite shocking," Jim Cramer told viewers of his "Mad Money" TV show Friday.

He said that while the market's outlook might not be better, it's certainly better than it was last week. He gave several reasons why he thinks the market rebounded.

Cramer said today's market was a clash of the titans, where the big, bad unemployment number went head to head with lower mortgage rates and cheaper gas. The winner, he said, was apparent. The bulls are winning.

While everyone feels bad for those who've lost jobs, there are simply more people benefiting from cheaper fuel and mortgages than there are suffering from unemployment.

Cramer predicted a continuing battle between the bullish and bearish forces. He said gas could drop to $1.50 a gallon in the next few weeks, while the jobless numbers could continue to weaken. On the plus side, he said, the current unemployment rate is nowhere near the jobless rate of 650,000 a month seen in 1980, nor the 1 million jobs lost a month in 1974.

Cramer said the markets are inching closer to a bottom, but with unemployment traditionally being a lagging indicator, investors should expect things to get worse for another three to six months before getting better.

The fact remains, said Cramer, that on a day like today, when the market should have fallen below Dow 8,000, we were up. That's why while things are not great, they're certainly looking up.

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