"I think this is another stealth rally — no one's talking about it," Cramer said. "People want to get out of these stocks. You gotta stay in. This is day one of the rally."
The pop came a day after new home sales data topped analyst expectations, while builder Toll Brothers handily beat quarterly earnings estimates, indicating that lending might be picking up, Cramer said.
"You are seeing these bank stocks just tearing," Cramer said. "They can lead. Remember, finance and tech are this stock market."
The financials hit their 52-week low in February, weathering volatile trade as the Federal Reserve, helmed by chair Janet Yellen, mulls credit tightening. Cramer's comments came as prominent bond investor Jeffrey Gundlach called U.S. stocks "dead money" while markets hinge on the Federal Reserve's next move.
But Cramer said: "This [rally] is a bet that Yellen is going to say, 'Listen, things are stronger.'"