As stocks drifted down from their highs on Friday, CNBC's Jim Cramer urged investors not to blame earnings action for the market's failure to rally.
"Even the amazing numbers and the stock moves from Foot Locker, from Ross Stores, from Gap, even from Abercrombie & Fitch, they weren't enough to prop up the averages," the "Mad Money" host said. "But no one ever said the stock market had to be rational, and in fact, market irrationality often gives us exactly the kinds of great opportunities I talk about because we can try to make money by going against the grain."
Cramer said a lot of the market's moves have been mirroring overseas markets, a trend he called "stupidity" because foreign stocks often slide on a weakening dollar, which is a boon for U.S. companies.
"That said, while blowout earnings reports can't always save the broader market, a beat-and-raise quarter will almost always produce higher prices for the stock in question," Cramer said. "It's another reason why you have to pay attention to the individual earnings reports."
With that in mind, Cramer turned to the stocks and events he'll be watching next week: