When a market is led by airlines and oil, Jim Cramer is in heaven.
"It is probably too early to call a turn in the entire group, but I think it is safe to say that the worst is over," the "Mad Money" host said.
Airline stocks have remained very cheap in recent months, as many investors assumed that as the price of oil goes higher, airline margins will shrink. Thus, it is one group that is truly impacted by rising oil prices.
However, Cramer is seeing sudden signs of life again in the group. JetBlue announce price increases, while American Airlines confirmed that it would change its rewards program in July to be one based on customer spending rather than miles.
"That is going to be a lot of income," Cramer said.