Watch this stock as tech sector barometer: Jim Cramer

The markets have a long checklist to cross off before mounting a true comeback, CNBC's Jim Cramer said Monday.

Insider selling needs to slow down, the IPO market needs to cool off and the formerly high-flying momentum stocks such as 3-D printing company Stratasys need to stabilize, Cramer said on "Squawk on the Street." That's a lot of hurdles in a week that could see big moves in the market, he said.

Coming off the worst week in the S&P 500 and tech-heavy Nasdaq since June 2012, the markets have plenty of headline-grabbing events to digest this week. Fifty companies in the S&P report earnings, and Cramer said one in particular ought to give investors a good measure of how the tech sector should fare: Google.

The company reports earnings Wednesday.

"Google will be the proxy on whether this group will do well," Cramer said. "Don't go crazy until you see the whites of their eyes, [until] you see some of these earnings reports."

Read MoreLast week's big stock selloff 'probably over': Pro

Gauging the stock market's general well-being, however, is more difficult, Cramer said. Tensions between Ukraine and Russia heated up over the weekend, and a lackluster earnings report from JPMorgan spurred a deep selloff on Friday.

On Monday's open, a better-than-expected earnings report from Citigroup sent stocks higher. Cramer said investors need to take this week one headline at a time.

"I don't ever want to say its OK, knowing that you have landmines like we had last week with JPMorgan and Wells Fargo, [and] that the coast is clear," Cramer said. "This is ... case-by-case."

Disclosure: Cramer's charitable trust owns Class A shares of Google.

—By CNBC's Jeff Morganteen.

Contact Stocks


    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More