Jim Cramer: Watch Tableau Software, ServiceNow for Market Direction

NEW YORK (TheStreet) -- Investors should pay attention to how Tableau Software (DATA) and ServiceNow (NOW) trade on Wednesday as a possible tell on how the broader market may react later in the session, TheStreet's Jim Cramer said on CNBC's "Cramer's Stop Trading" segment. 

Both stocks are marginally higher in Wednesday's early trading session and if they continue higher, it could be a sign that stocks will recover from the session's slight selloff. 

Cramer, the co-manager of the Action Alerts PLUS portfolio, pointed out that "high flyer" stocks began to climb higher at the end of Tuesday's session, which also featured a morning selloff. 

DATA Chart
ServiceNow NOW and Tableau Software DATA data by YCharts

"These are both really excellent companies," he added, which were both initiated with a "buy" rating by Bank of America. 

"These mornings have been false tells for a lot of these stocks in the afternoon," he concluded, so look to see how these two stocks trade as a possible tell on how the broader market will shape up for the rest of the session. 

-- Written by Bret Kenwell

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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