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NEW YORK ( TheStreet) -- The reshuffling of the Dow Jones Industrial Average makes a big statement about our nation, Jim Cramer said on "Mad Money" Tuesday.
Cramer said that while the S&P 500 still remains the benchmark to beat on Wall Street, today's changes in the Dow reflect our changing economy and priorities.
Off the ChartsIn the "Off The Charts" segment, Cramer went head to head with colleague Ed Ponsi over the direction of the emerging markets, mainly India, as seen through the WisdomTree India Earnings ETF (EPI), which is currently down over 19% for the year thanks to rising interest rates here at home stifling growth around the globe. According to Ponsi, however, that trend may be about to change. Looking at a daily chart of the ETF, Ponsi noted that after bottoming on Sept. 4, the fund has since shot up over $2. That's impressive for a $13 stock. He also noted the MACD momentum indicator is signaling a bullish crossover, at the same time the fund broke through its long-term trend line and, just today, through its 50-day moving average. All those points add up to a big deal for technicians, Ponsi concluded.
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