Just as Cramer was figuring out the direction of the overall market, the price of crude oil once again broke down and brought the whole market with it.
And Cramer has known for months now that hedge funds will tend to sell stocks whenever oil breaks down, and that is just what happened on Thursday. The reason for this is because they think that whenever oil goes down, then that means the economy isn't strong enough to grow on its own. So if the Fed tightens, the stock market will be in trouble.
Usually lower oil prices are bad for the stock market, but good for the real world. The extra cash in consumer pockets translates to higher purchasing power.
But there is a problem.
Cramer was thrown off when he saw a stock like Macy's crash right before his eyes on Wednesday, especially since shoppers will benefit from lower gasoline prices. The hideous quarter from Macy's proved that the decline in oil is not translating into additional sales.
"That is what has made these last few days so jarring," Cramer said.
Read More Cramer: Why this decline in oil is so frightening
The online food space has grown tremendously in the past 18 months. And as much as Cramer likes to order food for delivery, he is wondering what the heck happened to GrubHub.
GrubHub is the No. 1 online food ordering platform that is also behind Seamless, AllMenus.com and MenuPages.com. It went public back in April last year, and investors went totally gaga for the stock. It was hailed as the darling of high-growth Internet plays that could disrupt the restaurant business.
Now the stock has fallen off of a cliff.
But worst of all, GrubHub's daily average orders—a very important key metric—increased by just 22.5 percent, down from 33 percent at the end of 2015. GrubHub claimed there were weather and service outages, but in Cramer's opinion there is clearly a trend here that shows GrubHub is slowing.
At the end of the day, there is nothing worse for a company's earnings than competition. GrubHub may have not had much competition when it came public 18 months ago, but now there is a lot more competition and it is evident in its decelerating growth rate.
"Maybe GrubHub can turn things around, but I suggest you wait and see if the growth here can stabilize, because at the moment this former high flier has now entered the danger zone, making it too risky for me," Cramer said.
Read MoreCramer: Why GrubHub is in danger zone