You'd be crazy not to feel good about today's action, Jim Cramer told his Mad Money viewers Wednesday. While not all rallies are created equal, this one has everything Cramer likes to see.

Cramer said every good rally needs the financials. When banks do well, that means employment is good, credit is plentiful, and small business is strong -- and all of that translates to stability and prosperity for our economy. That's why JPMorgan Chase (JPM)  reaching a new all-time high and Bank of America (BAC) up another 2.4% today was bullish news.

Next, every good rally should see the recession names, like Clorox (CLX) and Coca-Cola (KO) in retreat, but retail names, like Burlington Stores (BURL) and Ulta Beauty (ULTA) , heading higher -- which we also saw today.

Cramer also likes to see tech trending higher, and we had that in spades with Micron Technologies (MU) popping 8.5% and taking many tech names beyond just FANG along for the ride.

Finally, no rally would be complete without gains for the transports. Cramer cited strength in XPO Logistics (XPO) and FedEx (FDX) , along with the rails and the airlines as proof that this sector of our economy is also humming along.

Cramer told viewers not to worry about rising interest rates. Normally, rising rates would hurt stocks, but in this case, they're simply returning to normal levels and aren't a factor. Also not a factor: tax reforms, which Cramer said will take a lot longer to transpire than most people think, if they happen at all.

Over on Real Money, Cramer says it's a good sign when the financials are leading, but that's just the beginning. Get his insights with a free trial subscription to Real Money.

Executive Decision: Palo Alto Networks

For his "Executive Decision" segment, Cramer again sat down with Mark McLaughlin, chairman and CEO of Palo Alto Networks Inc.  (PANW) , a stock that's up 4% over the past three months.

McLaughlin said that Palo Alto has been fortunate to be a leader in all three major evolutions of cybersecurity and all of the growth drivers are in place for them to continue to prosper.

In today's fast-moving world, McLaughlin said, cybersecurity requires unified, automated prevention systems that can identify things that need to be fixed and fix them automatically. It doesn't matter whether you're talking about government, education or enterprise, he said, requiring someone to be notified of a problem, then waiting for them to apply patches and fixes across the entire network is no longer scaleable. Removing the humans from the equation is critical.

McLaughlin said that Palo Alto has always been able to execute well and is always trying new things. Some of those things didn't work last quarter, but they were quick to respond and the results were apparent this quarter.

Cramer called Palo Alto Networks a "great story."

Cramer and the AAP team are adding a couple of financials to their bullpen. Find out what they're telling their investment club members about PNC Financial Services (PNC) and JPMorgan Chase, and get in on the conversation with a free trial subscription to Action Alerts PLUS.

Who's Driving Uber? 

Cramer said he doesn't often talk about privately held companies outside of his "Off The Tape" segment, but in the case of Uber, it's worth praising a board of directors that is doing the right thing. After dragging their feet on the ouster of Travis Kalanick, Cramer said, Uber's board made the right decision by hiring Expedia's (EXPE) Dara Khosrowshahi to run the company.

Cramer said travel's transformation from brick-and-mortar travel services to online bookings is not dissimilar from Uber is doing today. While at the helm of Expedia, Khosrowshahi saw shares soar 550% over 12 years. Khosrowshahi knows how to harness a secular trend, Cramer said, and he expects no less now that Khosrowshahi is driving Uber forward.

Executive Decision: Lululemon Athletica

In his second "Executive Decision" segment, Cramer welcomed back Laurent Potdevin, CEO of Lululemon Athletica (LULU) , the athletic apparel maker that's bucking the trend at a time when the stocks of Nike (NKE) and Finish Line (FINL) are faltering.

Potdevin said that unlike companies such as Nike, Lululemon has retained control of their brand and every aspect of their 421 outlets around the globe. He said Lululemon continues to lead the market at the intersection of athletics and mindfulness.

Humans crave human connections, Potdevin added, which is why customers are so connected to the Lulu brand. They host events around the world where customers meet and connect. Their brand is not just for women either, more men are discovering Lulu every day.

Lulu also continues to focus on innovation and value, Potdevin said, and the more they innovate and listen to their customers, the more loyalty they have and the more they win.

Cramer called Lululemon a terrific long-term retail story.

Lightning Round

In the Lightning Round, Cramer was bullish on Johnson & Johnson (JNJ) , Hawaiian Holdings (HA) , Southwest Airlines (LUV) , Henry Schein (HSIC) , Shopify (SHOP) and Adient (ADNT) .

Cramer was bearish on Time Warner (TWX) , Duke Realty (DRE) and Ford Motor (F) .

No-Huddle Offense

In his "No-Huddle Offense" segment, Cramer said that on the surface, semiconductor maker Micron Technologies and sneaker giant Nike might not seem like they have anything in common, but in fact, they do. What they have in common is supply and demand, or more specifically, inventory.

In the case of Micron, there's not enough inventory, as sales are up 91% year-over-year and the company is not adding new capacity to meet demand. Nike, on the other hand, is seeing flat demand, but has plenty of new sneakers on the horizon from itself and competitors.

Cramer said Nike's problem is simply too many sneakers, or to put it another way, not enough feet. That's not a place you want to invest.

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At the time of publication, Cramer's Action Alerts PLUS had a position in LUV.

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