GoKawiilCNBC's Jim Cramer on Friday laid out his game plan for the week ahead after what he called one of the most "remarkable" rallies he's ever seen.
"If you didn't believe we could have still one more week where we'd rally 3%, you'd be right," Cramer said. "We actually rallied 4% thanks to today's gigantic moves as peace seems to be breaking out in the Middle East."
The major averages surged on news of Iran reopening the Strait of Hormuz during the ceasefire between Israel and Lebanon — a critical artery for global oil transport. The Dow Jones Industrial Average jumped 869 points, or 1.7%, while the S&P 500 and Nasdaq gained 1.2% and 1.5%, respectively. The Nasdaq extended its winning streak to 13 sessions — its longest positive run of consecutive sessions since 1992.
Cramer said the market's resilience has been striking, noting that stocks have rallied through nearly every phase of the war with broad-based participation across sectors.
The Mideast conflict, however, is not over yet. President Donald Trump said the U.S. naval blockade on Iranian ships and ports "will remain in full force" until Tehran reaches a deal with Washington to end the war.
With that in mind, Cramer turned to the week ahead, where a packed slate of earnings will help determine whether the rally can keep running.
Monday
Alaska Air reports, and while it's not typically a focal point, Cramer said the possibility of the end of the war could revive merger activity across the airline space as the post-conflict backdrop improves.
Tuesday
Cramer is optimistic about the results from RTX , encouraging investors to buy the dip ahead of its report. He highlighted the company's unique mix of defense strength and commercial aerospace exposure.
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