Cramer plans to monitor Alcoa's quarterly earnings results when it reports after Tuesday's closing bell.
"Alcoa is going to set the tone [for earnings season], as it always does," Cramer said. "This is a stock that has gone from a first-half darling to being a second-half nightmare."
In the past week, Wall Street analysts have lowered their consensus earnings estimates for America's biggest aluminum producer. The estimates are so low, Cramer thinks the Pittsburgh-based company may be able to meet them.
Alcoa's guidance likely won't be as bullish as Cramer would like, but if the aluminum maker is able to report anything other than a huge loss, he thinks the stock could go higher.
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