Mon., June 2
On Monday, Apple will land front and center, again, but not because of the Beats acquisition. Instead, Cramer will be squarely focused on the Apple Worldwide Developers Conference, a widely anticipated annual event. "I think it will be as upbeat as the last one. The insights gleaned about new apps, as well as the hardware and software Apple will reveal to support them, should create a buoyant environment for tech. But remember Apple's stock has been on a straight up trajectory, and I wouldn't be surprised if some people ring the register and book profits."
Tues., June 3
Cramer will turn his attention to retail on Tuesday with Dollar General reporting earnings. Although Cramer likes the segment, if he were to establish a new position, it would be elsewhere in the sector. "Rather than any of the dollar stores, I would own Target," Cramer said. "It's a quality retailer, with a 3 percent yield and a new CEO coming."
Wed., June 4
On Wednesday, Cramer thinks earnings from Brown-Forman present a single stock opportunity. "I think we'll have still one more quarter of strength with Jack Daniels Tennessee Honey leading the way. I would own this stock because I think it's chronically underestimated by Wall Street."
Also the state of apparel sales will command Cramer's attention on Wednesday as PVH reports earnings. "I think you'll see some strength coming from the return of JC Penney's shoppers. Penney's has an amazing amount of PVH merchandise and I think the quarter will be just fine. That said, it's had a real nice run since its last quarter and my charitable trust rang the register on PVH this week to book gains."
Thursday June 5
The first of two big market catalysts comes on Thursday and Cramer is cautious. "The European Central Bank is widely expected to offer some sort of interest rate cut on Thursday, and I don't like this event. I think there are far too many people looking for something really bullish and they might not get it. That could produce some genuine selling by those who believed the ECB had a definite program to ignite the smoldering European economy."
Read more from Mad Money with Jim Cramer
New stocks facing 2000-ear maladies
Apple skeptics getting Tim Cook wrong
This stock could soar even higher
Looking at single stocks, Cramer is eager to hear what J.M. Smucker has to say when they report earnings on Thursday. "I bet they'll talk about the wave of mergers and acquisitions washing over the group. They're more likely to be predator than prey. I can't wait for that call."
Also Ciena reports earnings on Thursday, and Cramer doesn't like the risk/reward. "While the stock has come down hard since the last quarter, I think Ciena's become a crap shoot. If you want telco equipment exposure, stick with Cisco."
In addition, Joy Global reports on Thursday, however Cramer isn't fond of this stock, either. "Given the negative sentiment in coal, I don't think you want to be in Joy Global."
Fri., June 6
On Friday, the second of the two major market moving catalysts hits the Street.
"We get the Labor Department's nonfarm payroll report, and this is another one that could cause problems," Cramer said.
Effectively, Cramer thinks it has to be a Goldilocks number—just right—for markets to rally.
"Otherwise, if employment is very strong then we're going to hear about wage inflation. Very bad. If the number is weak, we're going to hear about layoffs and earnings estimate cuts, and that could also drive stocks down. I think it's more than likely the data will inspire some selling. And depending on what we get, it's possible any gains from earlier in the week could be undone, entirely, by Friday."