Due to an error at the Federal Reserve, the closely followed Fed minutes from this month were released early, at 9 am instead of 2 pm as usual. "Memo to Fed: release (the minutes) at 9. Stop with the 2 o'clock nonsense. Stop trying to manipulate the stock market with your numbers. I know they don't necessarily want to manipulate, but that's the effect," Cramer said.
Money was made in this rally "by focusing on Europe not going down, China not doing as bad," Cramer said. "There are countervailing forces to the Fed, including the fact that I don't think earnings are falling off of a cliff."
(Related: Cramer: Is China Stronger Than You Think?)
Cramer sees a shift of buying from "safe" money into cyclicals. He also mentioned a research note from Goldman Sachs that recommended a short position on gold on a forecasted acceleration in U.S. growth. As a safe haven investment, gold is a go-to asset for investors looking to preserve capital."It's kind of a gutsy call but it would explain why you would want to rotate intoCummins," Cramer said.
Cramer also added that Alcoa's earnings report indicates an increase in global demand for cyclicals.
"The torch has to be passed on," he said. "You probably want to go to companies that are selling at 10 times earnings, such as Intel and Microsoft. This is the rotation. I'm trying to nail the rotation."
"I want the Fed in the background and I'm focused on the 10 times earnings stocks that are working," he added. "I say you put the Fed in a box and you focus now on earnings because the Fed is not going to be relevant." Instead, Cramer said that strength in China and U.S. housing should be the focus of investors.
"The Fed's (employment) goal is wrong, it's fanciful. As long as there is cheap money we still have to focus on what's going to go higher. It is still the magic carpet ride, and I see the magic carpet ride continuing," he said.
—By CNBC's Paul Toscano. Follow him on Twitter and get the latest stories from "Squawk on the Street" @ToscanoPaul