During the March Action Alerts PLUS members' call, Jim Cramer notes that "a huge number of stocks are finding their price-to-earnings ratios being ratcheted down by extraneous issues that simply weren't the case in 2017."

And this along with the current market uncertainty is causing them to Cramer and his AAP team to consider moving more money towards  cash, so they can take their time to think about the next moves.

"The president is no longer on the side of the bulls," he says. So he is taking precautions.

He references one of his favorite market indicators, the S&P Oscillator Index, which is an overbought, oversold technical indicator that is supposed to indicate short-term trading sentiment in the market and is proprietary to the S&P.

In simplest terms, an Oscillator reading that is less than negative four means the market is oversold. When the reading is greater than four, it means its overbought.

 

So watch the clip above to learn where the Oscillator is these days and how Cramer and his team are reacting to it. 

 

Want more exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

Watch all of Jim Cramer's full NYSE live shows right here:

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