As stocks reversed course on Monday and erased their early-day gains, CNBC's Jim Cramer set out to find what's working in a market that changes its mind on a dime.
"It's a motley crew for certain," the "Mad Money" host said, pointing to "the utilities, the real estate investment trusts, ... the oil and oil service stocks, a smattering of domestic companies with no Chinese inputs, some takeovers and the companies that can deliver finely honed upside surprises, like McDonald's this morning ... or Visa last week."
But looking at Monday's intraday trading — from the decline in telecommunications stocks to the broad-based selling in the technology sector — it became clear to Cramer that those pockets of strength weren't enough to sustain a rally.
"But, and this might be a mighty big but, these leaders are enough to keep us from plummeting," he said. "[That's] something we need to take into consideration, especially at a time when so many commentators are eager to give up [on and] bury this market."