“We need to see the unemployment rate go higher, while wages remain stable and we get meaningful layoffs in some industries,” Cramer said.

Cramer explained that the overarching reason the blue-chip index has performed the best this year is because it’s full of old-fashioned, profitable companies.

“Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.