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Jim Cramer says the market made major strides during last week's rally

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CNBC’s Jim Cramer on Monday said last week’s market action may not be temporary.

CNBC's Jim Cramer on Monday said last week's gains may not be temporary, saying major strides were made in broadening the rally."I simply can't dismiss the best week of the year, where major strides were made in broadening the rally to everything from the financials, to recent e-commerce stocks, to the usual semiconductor and semiconductor and semiconductor equipment suspects," he said.

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyLike many rallies, Cramer said last week's market gains were"hard-fought victories" for the bulls that were not expected to occur in an over-sold market where the"gloom was palpable.", where rates held steady, Cramer suggested it's possible there may not be any more rate hikes in the next few months.

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