Cramer has a message for investors that believe current stock prices are unjustified: stop wasting his time. Earnings season kicked off with a bang this week, and Cramer liked what he heard from Alcoa, United Continental and Delta.
"At a certain point the anecdotal evidence piles up until it's empirical, and I think these earnings reports potentially justify these prices," Cramer said.
Central banks around the world attempted to debase their currencies in order to boost exports. As government bond yields around the world are hitting historic lows, the scarcity of U.S. bonds and prices being bid up create lower rates for the U.S.
This influx of assets coming to the U.S. are what is keeping rates low and makes dividend yields in stocks much more attractive. Thus, many investors believe there is an unnatural floor supporting the market. While Cramer noted that it does support the argument that stocks don't deserve to trade at current levels, he dismissed the theory.
Health care stocks didn't do much for the first half of 2016, but Cramer is ready for them to go into bull mode for the rest of the year.
Many investors fled the faster growth pharmaceutical and biotech names, and the best performing health care stocks of the first half were medical device plays.
"I think these patterns will continue through the second half, with winners staying winners all the way," Cramer said.
The health care cohort was down 0.4 percent in the first half. This was partly due to companies taking the heat for higher drug prices as highlighted by Hillary Clinton last fall. Valeant and the dissolved merger between Pfizer and Allergan also contributed.
HMOs, hospitals, laboratory service plays and medical device makers were all pockets of strength, which offset the weakness.