Jim Cramer cuts through the market's ‘doom and gloom' as the market wavers

He pointed to certain sectors that are seeing gains and said the economy needs to slow for the Federal Reserve to make eagerly-awaited interest rate cuts.

"Look, I'm not trying to call a bottom — I want to make that crystal clear — but I think it's worth taking a hard look at what's actually going right, not just what's going wrong," he said.on Wednesday tried to quell investors' recession fears. He pointed to several sectors that are seeing gains and said that the economy needs to slow for the Federal Reserve to make eagerly awaited interest rate cuts.

Some may argue that the weakness in the tech sectors also spells a recession, Cramer said, with many convinced thatBut he disagreed, saying the loss isn't significant when considering the stock's enormous rise this year — with its market cap nearly tripling within a matter of months — and the fact that it remains up more than 100% year-to-date

"I'm willing to declare that there's too much doom and gloom out there," he said."Look, I'm not trying to call a bottom — I want to make that crystal clear — but I think it's worth taking a hard look at what's actually going right, not just what's going wrong."Cramer explains why Dell is an 'incredible bargain' here

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