Cramer's 'Mad Money' Recap: March 11

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If the current rally is to continue, the leaders need need to hold on to their gains, Jim Cramer said on his "Mad Money" TV show Wednesday.

He examined the tech, oil and banking stocks, which fueled Tuesday's huge rally, to see how they fared in today's trading session. He came away with a mixed review.

Tech, Cramer said, followed through on Tuesday's gains, with both the Nasdaq and the SOX semiconductor index put posting gains again today.

Likewise, many tech bellwethers such as Apple (AAPL Quote), Hewlett-Packard (HPQ Quote), Amazon.com (AMZN Quote) and Google (GOOG Quote) showed strength.

Cramer said the oil patch was a severe disappointment. With the news that oil and gas inventories are still too high, and stocks like Exxon-Mobil (XOM Quote) and Cramer fav ConocoPhilips (COP Quote), a stock which he owns for his charitable trust, Action Alerts PLUS, both lower, this sectors is showing no signs of a rally.

The banks, however, were in rally mode, with JPMorgan Chase (JPM Quote) and Citigroup (C Quote) both lurching higher. He said there was even an upgrade of Morgan Stanley (MS Quote).

What does the market need to continue this rally? Cramer said he'd like to see even more analyst upgrades, along with good news from the oils.

He also said he'd like to see weakness in the consumers stocks. That, he explained, would signal that investors are leaving the recession-resistant stocks for other sectors.

"It's not too late to buy on pullbacks," he said.