Cramer also saw signs that Republican leaders may try to slow President-elect Donald Trump's agenda when he tried to scrap the Affordable Care Act, which could make the economy grow faster, but not stocks.
The Senate hearings about cyber espionage also indicated to Cramer that some Senators are not afraid to defy Trump.
"If Trump's own party is going to make trouble for the agenda that brought us oh-so-close to Dow 20,000, then we're going to have a sell-off," Cramer said.
Wall Street was also rocked by news of Macy's and Kohl's, which caused most retail stocks to be crushed initially. As the smoke cleared, investors recognized that it wasn't just consumers not spending money, but they just aren't going to the mall. This sent Amazon up 3 percent Thursday.
So, with the notion that the economy could be slowing and Trump wasn't able to lift stocks, investors will go back to buying the stocks of companies that do well in a slowdown and don't need Trump's help. That meant FANG was back in style.
"This is the pause that I have been expecting, it's just that rather than unleashing a tsunami of selling, it merely caused money to flow from Trump stocks to not Trump stocks," Cramer said.