In the "Off The Charts" segment, Cramer went head to head with colleague Scott Redler over the future of the markets using the charts of the
S&P 500 as their guide. Cramer said that after trading essentially sideways for the past 12 years, its easy to see why investors have adopted a perma-bear stance towards investing. But do the charts signal a true bull market is ahead? According to Redler, it does.
Redler looked at a long-term chart of the
S&P 500 dating back to 1998. He noted that the chart does show a dreaded double-top formation, with tops in 2000 and again in 2007 just before the financial crisis began. But he also noted that since the lows of 2007, the markets have been exhibiting a healthy uptrend pattern, making higher highs and higher lows. According to Redler, if the
S&P 500 can break above 1576, the sky's the limit.
Cramer said he too is a believer in this thesis. He said after over a decade of going nowhere, the markets are now poised to begin another true bull market, one reminiscent of the 1990s, an era which far too many investors have forgotten.
Cramer was bullish on
Cramer was bearish on
In his "No Huddle Offense" segment, Cramer said he's baffled by the stocks of
(AMZN - Get Report)
, which have been creeping higher despite disappointing on earnings.
Cramer said both stocks should have gone down and stayed down. In both cases, the companies are trying to take on Apple, moves which will cost them both money and margins.
So why the moves higher? Cramer said it could be because they shouldn't have fallen so much when they reported or it may be growth funds expanding their position. In either case, Cramer said he doesn't like the outlook and would use any strength to trim positions.
--Written by Scott Rutt in Washington, D.C.
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