Jim Cramer thinks that oil may be a key indicator for the market.
In case you missed it, the market has been on an upward ride since earlier this week.
But the markets haven't been in the green for that long and, following a tough May, investors may feel anxious about Wall Street. However, Cramer has an indicator that all investors should watch. And, no, it doesn't matter if the market is up or down.
When asked about the one thing that investors should keep a close eye on in the market, Cramer responded simply with, "oil."
"What's happened is for the longest time if oil went up, the market went up cause it was a sign that maybe things are a little stronger, we're fine now when oil goes down in the market goes up because we want to see weakness like the ADP number that we got, not the PMI number, the ADP number," he explained.
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