While the sell-off on Friday may have felt very sudden, Jim Cramer has seen the market going down for a very long time. With the average stock in the S&P down 20 percent from its highs last week, Cramer thinks investors should just get used to the notion that good news just won't matter right now. This is especially true for the financial stocks, which is just as bad as the oil group right now.
"I want to talk about the psyche of a bear market so you can understand why nothing is working and the averages can't put together enough of a winning streak to make it so you can get anything but a trading bounce," the "Mad Money" host said.
It seemed to Cramer on Thursday that the market was finally making some progress in checking off the boxes of his market bottom checklist.
So should investors take advantage of the weakness and do some buying?
With all of those boxes unchecked, options expiration and a three-day weekend, Cramer thinks it is too much to do some buying.
"Better to hold on, wait, and get a better moment," Cramer said.