Wondering how the market will first react, if and when we go over the fiscal cliff? Cramer thinks we may have just gotten an early glimpse.
That's because sentiment in the market may have just shifted in a meaningful way.
Until now, there was some hope in the market that the cliff could be avoided. But after a recent excursion to Washington earlier in the week, business leaders are coming to think that's not the case. "What these business leaders have discovered is there's no compromise coming. That's the information that's filtering back to guys like me," said Cramer.
Goodbye compromise means hello cliff.
And as a result, Thursday's trade reflects a growing acceptance on the Street that the cliff is becoming unavoidable. So what's the takeaway from the price action?