The Signs Clearly Read 'Bull': Cramer
The S&P 500 has never increased this much in the first four months of the year without a three-day pullback, and CNBC's Jim Cramer sees that as proof that this market is for real.
"It's a bull market," he said on "Squawk on the Street" on Tuesday. "That's the kind of statistic" that demonstrates it.
Cramer urged investors to look at the companies that missed street expectations: Apple, Exxon, IBM, Amazon, 3M, AT&T, Procter & Gamble, Intel, Qualcomm, General Electric, United Technologies, United Health, JP Morgan, Wells Fargo, Bank of America, Morgan Stanley, Goldman Sachs, Caterpillar, McDonald's, Starbucks and Pfizer.
"Those all disappointed, and we're at all-time highs! Isn't this what the S&P is?" Cramer asked. "It says that things must be getting better. The second half must be getting better."
"I believe that this is a harbinger that things are getting better and we're going to be paying more for stocks," he said.
Searching for answers, Cramer said he sees Federal Reserve Chairman Ben Bernanke leading the charge. But, he added, CEOs he has spoken with say that "Europe has bottomed, China is coming back and the U.S. is getting stronger."
On the other hand, some negative indicators may give investors pause. For example, he said, "copper has to break out; copper doesn't look good. These are signs that the economy is not getting good."
"There are dichotomies that make it very difficult. The bottom-line number means a lot more than people realize, or else we wouldn't be where we are. It obviously was not revenue growth that the investors care about. Instead, they cared about yield."