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NEW YORK (TheStreet) -- The negatives may have finally caught up with us, Jim Cramer admitted to his Mad Money viewers Tuesday. Cramer said many of the market's tailwinds have turned into headwinds but he's hoping the companies yet to report this quarter will tell us otherwise.
To be clear, Cramer said he still likes the markets overall. Interest rates remain low, many companies have good growth and activist investors are creating wins for investors everywhere you look. There's been real strength in the drug and biotech group, and even Twitter (TWTR) was able to surprise to the upside, Cramer continued.
But there are many trends in the markets that appear to be losing traction. The housing market continues to cool, Cramer noted, while downgrades at many aerospace companies seem to be sticking. The auto cycle also appears to be losing steam and the red-hot oil drillers are seeing their stocks slumping. Interest rates continue to fall, which hurts the banks, while insurers, such as Aetna (AET) today, are also being hammered.With so many trends pausing all at once, it's hard not to be more cautious, Cramer concluded. What the markets need is for companies to tell us that things aren't as bad as they appear. If they can do that, the markets will head higher. But if not, then stock prices are just too high.