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Why Jim Cramer Says a Bad Set of Earnings Won't Drag Down the Markets

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Recession junkies, you may need to take a chill pill.

As Wall Street kicks off a new week of trading, markets remain at or near all-time highs.

But this week, earnings season kicks off in earnest with reports expected from JPMorgan (JPM) - Get JPMorgan Chase & Co. (JPM) Report , Wells Fargo (WFC) - Get Wells Fargo & Company Report , Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report , Johnson & Johnson (JNJ) - Get Johnson & Johnson (JNJ) Report , Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report and more.

Pundits across the line have saying earnings season could signal the beginning of the end of the bull market with low expectations expected among the most popular stocks.

But will disappointing earnings be enough to drag down this market? TheStreet founder and Action Alerts PLUS portfolio manager Jim Cramer isn't so sure.

Here's the advice he's giving viewers.

"I think that what you have to do if you listen to the conference call and you believe that the company has economic sensitivity or is in that sweet spot like a McDonald's or Nike--you'll be just fine. Stay away from the bad guys like a 3M. Where you know, structurally, they're bad. United Technologies, until they get their deal done, has got a cap on it. But I do think that what we're going to end up is, if it's bad, people are going to say the Federal [Reserve] will bail them out," said Cramer.

Related. Jim Cramer: Don't Expect Disappointing Earnings to Push Markets Down

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