U.S. equities have their work cut out for them, CNBC's Jim Cramer said Monday, the first trading day of 2016.
"We left 2015 in 'Crazy Town.' 'Crazy Town' meant that when oil went up, the market went up. When the dollar went down versus the euro, the market went up. So we're going to face a real test case this morning, because the dollar is going down against the euro and oil is going higher. So the machines are set off to buy; not sell," Cramer said on "Squawk on the Street."