There's a real sense that something foreboding may be lurking just around the corner, said Jim Cramer.
And the "Mad Money" host isn't surprised. He says that since there have been so many conflicting cross currents, investors just don't know which end is up.
1. Treasurys. "Interest rates are plummeting," Cramer said. "The Fed tells us business is improving, and jobless claims suggest the economy is getting better, yet the yield on Treasurys implies a slowdown or worse."
2. Mineral and mining stocks. "This group usually rallies when rates are moving higher. Typically, lower rates are the kiss of death for this group. Yet mineral and mining stocks are doing very well."
3. Oil. Oil stocks have been rallying, and Cramer doesn't see why. "Is there about to be some sort of embargo somewhere? These stocks have been relentlessly rallying on absolutely nothing that we know of."