Boroden has had the "hot hand" recently, accurately predicting the market's June 24 bottom. Using a weekly chart of the
going back to October 2011, Boroden noted that all four of the averages big declines fell into a similar pattern, both in size and duration. Applying that pattern to today's rally, Boroden had a target of 1721 and another of 1765 for the S&P.
Looking longer term, Boroden also looked at a monthly chart of the S&P 500 going back to 1996. Using the same analysis, she offered up a longer-term goal of 1823 for the index.
Cramer said he sees little standing in the way of achieving Boroden's targets, especially given how wrong the bears have been thus far.
Cramer's Favorite Banks
When it comes to the big banks, Cramer said he now has two favorites,
(JPM - Get Report)
and Wells Fargo, his Action Alerts PLUS holdings.
Cramer said after interviewing JPMorgan CEO Jamie Dimon earlier today there's no doubt this bank can make money in any environment. While credit cards and auto loans roared, home loans tapered off as interest rates hit their highest levels in almost two years. But even with this weakness in a key area for JPMorgan, Dimon remained bullish on America and its prospects.
Cramer said that if JPMorgan can make this much money in a lukewarm economy, imagine how much it could do with higher interest rates and lower unemployment. He said the bank may even be allowed to pay a larger dividend someday.
But Cramer also remains a fan of Wells Fargo, which even Dimon admitted is doing a better job in the home and commercial lending space. Wells Fargo is the clear leader when it comes to mortgages, said Cramer, which also gives that company huge upside going forward. He said it's clear that Wells and JPMorgan are no longer two of a kind, with Wells Fargo now dominating as a mortgage lender and JPMorgan staking its claim in the investment banking and lending space.
Both banks are cheap, and both can be bought, Cramer concluded.
In the Lightning Round, Cramer was bullish on
Cramer was bearish on
Executive Decision: Robert Gould
In the "Executive Decision" segment, Cramer sat down with Robert Gould, CEO of
(EPZM - Get Report)
, a recent biotech IPO that's already roared 140% in just its first six weeks of trading.
Gould explained that Epizyme's approach to cancers like leukemia and lymphoma is to use targeted therapeutics to first identify specific genetic defects in patients, then deliver drugs that target those defects.
Gould traced much of his company's success back to the Human Genome Project, which mapped the entire DNA sequence. He said based on that research, Epizyme is now identifying what goes wrong in a cell's DNA to turn it into cancer. One day, Epizyme hopes to replace bone marrow transplants and other "carpet bomb"-style treatments with ones targeted specifically for each individual. The promise for this therapy is welcomed by the Food and Drug Administration, he said, which he hopes will be offering accelerated timelines for drug approvals once the platform has proven itself.
Cramer said that while all of Epizyme's diagnostics and treatments are still in Phase I testing, the company holds much promise for patients and shareholders.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer opined on the surprise negative pre-announcement from
Cramer said UPS clearly has a lot of headwinds to fight including a slowing global economy, consumers being less willing to pay for faster shipping and a slowing industrial economy here at home. He said all of these factors are exactly what happens when there is no lending and no small business formation as we have in today's economy.
The UPS news proves investors cannot play the recovery with just any stock but must continue to do their homework.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC
-- Written by Scott Rutt in Washington, D.C.
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