And there are plenty of reasons to worry.
The wholesale price of gasoline is up 14 percent so far this month and pundits are starting to think it's going to pinch the consumer and dampen the recovery. "The Street thinks the increase is akin to a tax, a direct tax that takes disposable income and flushes it down the toilet," Cramer said.
Also Ben Bernanke's testifies on Wednesday before the House Financial Services Committee. His comments will be closely analyzed for signs of when the central bank may start reducing its stimulus efforts. If the Street thinks the Fed is a step closer to tapering, rates could spike, "and you remember what happened in the market the last time rates spiked," Cramer said.
Again, there are plenty of reasons to worry. It seems to make perfect sense to conclude that the stock market could be topping out.
Except, for one thing.
"There's been plenty to worry about for months," Cramer reminded. "There's been plenty to worry about since the beginning of the year."