The market sentiment has become more negative than Jim Cramer can remember in recent years. That is why Cramer decided to dig a little deeper to figure out when the market will have a real investable bottom and not just an oversold rally.
"Sentiment can't cause a rally on its own. Something fundamental has to change," the "Mad Money" host said.
In order to answer the question of when the market will bottom, Cramer referred back to the checklist he created on Jan. 11 of what needs to happen before a genuine bottom can occur.
Unfortunately when Cramer reviewed the checklist, not many boxes were checked off — even after the insane torture that stocks have been through so far this month.
After Cramer went down the list, he understood exactly why the bottom has been so hard to find.
He went down the list to share the status of where the market stands on each checkbox:
No. 1, the Fed needs to change it narrative that it plans to hike interest rates no matter what. The market cannot handle it right now, and if it does not change its message Cramer fears the economy could be next to head downhill.
Read More Cramer: When the market torture will end