KEY POINTS
  • CNBC's Jim Cramer said the market is primed for a pullback because some stocks have been seeing huge gains too quickly.
  • "While I'm not a bear, we have way too many stocks that have gone parabolic, meaning they're straight up, and they're going straight up on nothing," Cramer said.
  • "I say let this market come in," he said. "It deserves a chance to correct even as some parts of it already have."  

CNBC's Jim Cramer on Tuesday said the market is ready for a pullback because many stocks, including tech companies touting artificial intelligence initiatives, have climbed too quickly without a solid basis for doing so.

He said Tuesday's action — with the Dow Jones Industrial Average slipping 0.62%, the S&P 500 declining 0.37% and the Nasdaq Composite dropping 0.19% — is a good start.