Cramer's 'Mad Money' Recap: Behind The Big Selloff (Final)

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"The real reason for today's selloff was technical," Jim Cramer told the viewers of his "Mad Money" TV show Monday.

He said today was one of those days when the charts were in control.

Despite what the pundits on TV may tell you, Cramer said the economic recovery was not derailed today. High oil prices, a strong dollar and Obama's healthcare reforms are not going to plunge us into a deeper recession, he said.

He said the markets tanked because for technical reasons.

After looking at a chart of the S&P500, it was clear to him that the market had gotten ahead of themselves, when it crossed both the 10-week and the 30-week moving averages. When this happens, especially in such a strong fashion, a snap back to reality is almost always the result, he said.

Cramer said the good news is that after today's decline, "we're almost there," referring to the point where the two averages meet.

Once we're there, he said, the fundamentals will once again be in control, and the bull market will return.

He said he's not worried because "today's selloff was on the lightest volume in weeks."