First he created the FANG (Facebook (FB) , Apple (AAPL) , Netflix (NFLX) , and Alphabet (GOOGL) ) stock acronym several years ago. Then this year came the Cloud Kings (shout out Salesforce (CRM) ). 

Now with the market catching a case of the Debbie Downers amid trade war fears, TheStreet's founder Jim Cramer has developed the GLUM Index. 

"We need a gloom index. Just an amalgam of names that encompass the gloom and can be bought every time we feel gloomy, which, sadly, is pretty much every day," Cramer writes on TheStreet's sister publication Real Money. You read the full piece on the GLUM Index here

These 12 stocks comprise the index. Take note that they tend to be large-cap multinational companies that could lose the most in a heated U.S. trade war with China (or at least the market thinks right now they could lose). Hence, the names are under pressure at the moment. 

  1. Caterpillar (CAT)
  2. Boeing (BA)
  3. 3M (MMM)
  4. General Electric (GE)
  5. Johnson & Johnson (JNJ)
  6. Citigroup (C)
  7. Goldman Sachs (GS)
  8. Lennar (LEN)
  9. Walmart (WMT)
  10. Ford (F)
  11. Gilead (GILD)
  12. Celgene (CELG)

Be sure to track the GLUM Index closely in coming sessions. When the index begins to turn its frown upside down, the broader market could stage an oversold rally.

Check out Jim Cramer's "25 Rules of Investing" here

Facebook, Apple, Alphabet, Salesforce, 3M, Citigroup, and Goldman Sachs are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells these stocks? Learn more now.

More from Stocks

Lee Munson on the Market, Trade and the Possibility of a Recession

Lee Munson on the Market, Trade and the Possibility of a Recession

Buy These 3 Killer Tech Stocks, Says Wall Street's #1 Analyst

Buy These 3 Killer Tech Stocks, Says Wall Street's #1 Analyst

How Tariffs Can Impact the U.S. and the Global Capital Markets

How Tariffs Can Impact the U.S. and the Global Capital Markets

Here's Why Alphabet, Facebook and Amazon Earnings May Overshadow Tariff Worries

Here's Why Alphabet, Facebook and Amazon Earnings May Overshadow Tariff Worries

Trump's Attack on the Federal Reserve and China Leaves Investors Feeling Strange

Trump's Attack on the Federal Reserve and China Leaves Investors Feeling Strange