Three of the 30 companies that make up the Dow Jones Industrial Average just got the boot; to be replaced by a trio of others. Cramer says the comings and goings are telling.
Founded by Charles Dow in 1896, the 'Dow index' is made up of so-called blue chip companies with the average intended to provide a broad measure of activity in the US stock market.
Over the decades companies have been replaced with somewhat frequency however the last time the Dow committee switched three stocks at the same time was April of 2004.
Looking at the specific changes just made, the committee that oversees the index dropped Bank of America, Alcoa and Hewlett-Packard. The committee replaced those stocks with Nike, Visa and Goldman Sachs.
"I think these changes tell a huge tale about where corporate America is today," Cramer said.
"By dumping Alcoa they are eliminating a worldwide manufacturer of one of the most important raw materials in the world: aluminum," Cramer noted. "In its place? Sneakers! To me, that shows you the importance of the switch from heavy industrials to light apparel."