It was a week of extremes for Jim Cramer, with stocks ending each day a champion or a loser.
And it all came down to oil as the catalyst for the rally.
The Fed is fearful of inflation, in Cramer's opinion, and if wages continue to be stagnant he would not be surprised to hear a negative statement from the Fed but not an actual rate hike. In fact, the market could be too bullish on oil right now.
The golden price of oil for Cramer is the one that brings equilibrium. That's the price that allows oil companies to stay afloat, without taking down the banks that lent to them, and yet allows the consumer to save money at the gas pump.
In addition to the Fed, one event that Cramer will be watching next week is the analyst meeting for CBS. He cannot wait to see what CEO Les Moonves has to say. As usual, he might just make investors wish that they owned the stock. So, the trade of the week could be buying CBS into its analyst day.