NEW YORK ( TheStreet) -- The rally last week was absolutely justified, said Jim Cramer in his Mad Money show Monday evening. Last month, Cramer created a checklist of six concerns that needed to be addressed for the market to recover. He said the situation has improved so much that he took five of them off the table. He said the finishing touches are being put on financial regulatory reform, the financial situation of Spanish banks financial is stabilizing, Wall Street is hiring, the oil spill is getting under control and China is likely to pull off a soft landing. He said the only unchecked item is unemployment, but he believes that will improve with all the other five factors in place. "With the other five now fixed, it is hard to believe unemployment will not improve. I think we have seen the lows of the year," he said.