Federal Reserve Chairman Janet Yellen will testify before Congress on Wednesday and Thursday for her semi-annual report on monetary policy.
Cramer said Home Depot is closely tied to Masco (MAS - Get Report) , a manufacturer of products for the home improvement and new home construction markets. Masco's stock is up nearly 5% on Tuesday after it reported strong fourth-quarter and full-year 2015 results.
That should give investors the green light to buy Home Depot, Cramer said, adding, "I think that's important because retail has been under pressure."
"People have been shooting and asking questions later. It's proven to be a wrong philosophy today," Cramer said.
"I'm crafting scenarios that just says people are afraid to be short ahead of Yellen tomorrow," and they will cover stocks like Humana (HUM - Get Report) , Tesla (TSLA - Get Report) , Cummins (CMI - Get Report) and McDonalds (MCD - Get Report) , he said, as well as the FANG stocks -- Facebook (FB - Get Report) , Amazon (AMZN - Get Report) , Netflix (NFLX - Get Report) and Alphabet (GOOGL - Get Report) , the former Google.
"This is the traditional thing that happens in a bear market," Cramer said.
"People get all excited, and they think it's over," he said. "Don't get all excited."