Jim Cramer Says Oil and Interest Rates Causing Market Rally

Jim Cramer says it's counter intuitive but here's what's causing the rally in the markets: Interest rates are going higher which suggests that perhaps we're not going into a severe recession or deflation period that we can't get out of. The second reason is that oil managed to turn things around. There are a lot of companies that would go bust if oil goes between $70 and $75 and that was scaring people tremendously. Cramer says there are a couple of other things going on including ISIS retreating from Kobani which suggests the strength of ISIS is limited. In China there is talk of a major intervention by the government to throw a lot of money back at the banks. So these are all positive contributors to the rally.