Mad Money

Cramer: Dozens of stocks that could work higher

Cramer looks for bright spots in the market

Jim Cramer likes to review the S&P 500's Daily Action Charts in an effort to find stocks that he thinks could work higher.

"I went through the charts with a special eye toward those which looked best on a 30-week moving average, which happens to be my favorite window and has served me well in the past." Cramer said.

"The charts were mainly hideous, but you don't need me to tell you that." There were some winners, however, though Cramer said it was a rather unexpected bunch.

Here are the stocks that look best on a technical basis.

Adam Jeffery | CNBC

Cramer said the big winners surfaced in health care, which he said makes sense because it's a defensive sector. When there's uncertainty in the world, health care typically rallies.

Digging down into the space Cramer said pharmacy benefit managers such as AmerisourceBergen, Cardinal Health and McKesson looked strong technically, as well as device stocks such as Baxter and Edwards Lifesciences.

Also he said, Amgen, Gilead, and Regeneron looked good as well as CVS and Walgreen.

Elsewhere in the market, Cramer found promising trendlines in tech, with Apple, Hewlett-Packard, Microsoft and RFMD all looking strong.

In addition three oil-related stocks appeared relatively bullish; Apache, Enterprise Products Partners and National Oilwell Varco.

In retail, Cramer said Starbucks, Under Armour and Home Depot all made the cut.

And finally he said and Snap-On warrant attention, as well as Brown-Forman.

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"All the rest of the charts were sickly, as you can expect after a two percent decline," Cramer said.

However, if you believe the market's stabilizing based on a slowing economy, Cramer thinks any of the stocks listed above warrant some attention. Technicals suggest they could work higher. Now it's time to do a little fundamental homework.

(Click for video of this Mad Money segment)

Call Cramer: 1-800-743-CNBC

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