Next week, the big item on the calendar is the non-farm payrolls report for May. Jim Cramer says this will be a big report, especially as there is not a lot of other data or other companies reporting. He says that's the type of environment where one piece of data can move everything, especially in a thin market like this. He says if we get a strong number, he believes we will see a spike in rates. Cramer predicts that now the rest of the data we receive will be strong, and the GDP will be the last of the bad numbers. But as far as next week's jobs report goes, he says investors are divided about what they would like to see, meaning someone will be unhappy and there will ultimately be some profit-taking. With this in mind, he advises investors to be careful heading into the report.

More from Video

Video: Jim Cramer on Netflix, Disney, Intel, Micron and Goldman Sachs

Video: Jim Cramer on Netflix, Disney, Intel, Micron and Goldman Sachs

Sprout CEO: Don't Call Her Drug the Female Viagra

Sprout CEO: Don't Call Her Drug the Female Viagra

Jim Cramer Weighs In on Intel CEO Resignation

Jim Cramer Weighs In on Intel CEO Resignation

Jim Cramer: I Think Deregulation Will Produce Very Good Earnings for Banks

Jim Cramer: I Think Deregulation Will Produce Very Good Earnings for Banks

Jim Cramer on Micron: Listen to the Conference Call

Jim Cramer on Micron: Listen to the Conference Call