If it looks & smells like a bull, it is a bull

Cramer: True bull market action

The bull has been waiting on the sidelines all year, and it has finally arrived. Jim Cramer sees things going right all around him, which is how the Dow and the have both rallied to record levels recently.

The market smells like a bull, and it sure is acting like a bull. Sure enough, Cramer says it is a bull!

"In a bull market things go right. That's just what happens. Worries get squashed, objections get rebutted and fears are quelled," said Cramer.

Take JPMorgan, for instance. On Monday night news broke that U.S. officials are investigating whether large banks like JPMorgan have rigged the gold market. So the stock should tank, right?

Wrong. The company even announced it would start charging large customers deposit fees, and when someone suggested that the bank break up into smaller pieces, executives flatly refused. The result? The stock enjoyed one of the biggest gains it has ever had. The bulls definitely took a run on that one.

Adam Jeffery | CNBC

The next bull market stock of the week was First Solar. Cramer has been hoping for ages that this company would finally split itself up between finished solar products that provide yield and a manufacturer that provides growth. It just wasn't happening.

Then, on Tuesday, First Solar announced a joint venture with another company and then set that up for yield. That's exactly what Cramer's been looking for, and the stock lit up 10 percent as a result.

"In a bear market, even things that make sense don't work. In a bull market, they work writ large," Cramer said.

Or take this textbook bull case: Cracker Barrel. Last week, Cramer said that Cracker Barrel would blow away the numbers because lower gas prices have turned consumers to traveling by car. Cracker's link to the interstate highway system would give them a unique advantage.

Sure enough, it rocked the quarter, citing the benefit of serving as a convenient place to stop for travelers.

Then there was the Fed Chief Janet Yellen on Tuesday. Previously, investors would have waited and held their breath for the Fed to drop big news and cause the market to violently swing. But Yellen? She was a different story.

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Cramer saw that Yellen came, said nothing, and conquered. "Believe me, that only happens when the bullish stars are aligned and Ursa Major gets obliterated by Taurus."

So when things go right in a bull market, stocks go up. And when they don't go right, investors find reasons to cheer and buy stocks anyways.

That's how the market goes higher. It certainly smells like a bull, and Cramer foresees that it will keep running higher than he has seen in a long time.

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