As the market dipped lower Tuesday, after a three-day winning streak, Jim Cramer saw housing as the one plump goose in the market. And while it might not be a golden goose, Cramer fears that if it gets killed then we are all in trouble.
The averages relapsed back into international purgatory on Tuesday when the Chinese stock market took a nosedive, emerging markets like Mexico and Brazil were weak and the dollar strengthened yet again.
"When you have this combination, it's almost impossible for the market to rally. There are just too many companies that do poorly in that scenario," the "Mad Money" host said.
At this point, with the strong dollar wreaking havoc on American companies doing business overseas oil dropping lower, the only thing that is really working is housing.
The important thing that Cramer wants investors to understand is that housing has become the goose of the market. So, on days like Tuesday, it may give the impression that that the market is strong enough to power through the bad news of China.
"But if China gets hammered again and the dollar goes still higher, and we get some Fed head saying rates need to be raised, then the set-up will be very bad, and I need you to be ready for some turmoil," Cramer said.
In the lightning round, Cramer also warned against riding the health and wellness trend through Planet Fitness. The gym business is just too cutthroat for his taste, he said.