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Jim Cramer: We're Starting to Get Stocks That Aren't Working

Jim Cramer says now more than ever is the time to be cautious with the stocks you pick and choose.

Whatever happened to the dog days of summer? Jim Cramer said the market is getting bifurcated once again.

Though the S&P 500 and Nasdaq recently experienced all-time highs, markets were in search of direction Friday. After signaling lower in premarket trading, the Dow, Nasdaq and S&P 500 rose in early trading as stocks wavered on ongoing concerns over the global economy. 

"This market is starting to get really hard...we're starting to get stocks that aren't working," Jim Cramer told TheStreet's Katherine Ross in an interview Thursday. 

When asked about the upcoming slate of corporate earnings, which includes reports from Salesforce, Best Buy, Ulta and more, Cramer said there simply isn't a name he would get excited about like he did when Nvidia reported results.  

Watch: Jim Cramer Loves Nvidia, But He'd Still Sell the Stock 

Cramer added that there are a lot of stocks out there that have soared higher without the fundamentals really changing. 

"August is historically not a good month, and I don't necessarily expect a big rally," Cramer said. 

When breaking down what's topping his watchlist for the upcoming week, Cramer suggested keeping a close eye on the dollar as well as crude to gauge where market sentiment could be headed from here. 

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