Tuesday’s market action was a classic faded opening, Cramer said during Stop Trading!.
Falling oil prices drove up the Dow Jones Industrial Average nearly 250 points only to give back those gains later in the day.
“Everybody who didn’t like the market last week got the chance to sell,” Cramer said.
But the Mad Money host is “far less concerned” about most areas of the sell-off than he is about watching the housing and banking indexes. He’s not disregarding the potential for the sell-off to be “pronounced,” with the market so thin and exchange-traded-fund selling further driving down stocks, but as long as those two sectors do well he’s willing to live with the market’s volatility.
“I think these are the two indices,” Cramer said of housing and banking, “that are going to lead us out of this jam.”