Expect a price breakout next week as the market is overbought, says Jim Cramer

CNBC Jim Cramer on Friday he provided his game plan for the week ahead, encouraging investors to calm down while the market is so overbought.

“I think it will be worth waiting for a price breakout before pulling the trigger,” Cramer said. “There are enough high-quality stocks that can still fall a lot in a benign environment, like health insurers this week, more on that later, or semiconductors last week, so I’m sure you’ll have a chance to buy something. good at weakness, so why not wait?”

Although the market is closed Monday for the June 16 holiday, Cramer will be looking raytheonPerformance of ‘s at the Paris Air Show. He expects positive results due to the high demand for global travel after Covid.

fedex is scheduled to report earnings on Tuesday, and Cramer said he believes the company has “one of the most exciting situations in the entire market” due to new CEO Raj Subramaniam and his surge in e-commerce in recent months.

Wednesday will bring a meeting of analysts from dollar tree, which according to Cramer just reported one of the worst quarters of the year. He believes that a comeback could be possible, but not without a tangible action plan. Elsewhere, Home Builder KB Home will report Wednesday after the close, and Cramer expects the result to be similar to the positive results recently reported by his peer, lennar.

On Thursday, Cramer will focus on Olive Garden parents. dardenearnings report from, as well as software company investor meetings samsara and MongoDB. He hopes all three names tell positive stories, especially Darden, as he believes people are still spending money on dining out.

cramer thinks CarMaxThe earnings report on Friday will show that used car prices are coming down, which he says is a good sign for the company.

Cramer’s bottom line?

“When I say that the market gives you an opportunity to enter, I am reminded of how violent movements are constantly occurring, and that is when you act,” he said. “The pattern is simple: emotional horror show followed by rational purchases, which is still a very good setup, indeed.”