market commentator Jim Cramer allegedly said that after two-thirds of Dow Industrials reported earnings, it should come as no surprise that the market is so high.

What happened: “It was supposed to be a bad results season, but it was damn good,” Cramer said on Monday. after to a CNBC report.

He pointed out that there have been many beats but not many notable failures and the market is consistently reflecting that.

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US markets ended lower on Monday as market participants weighed the news from JPMorgan Chase & Co JPM take over Bank of the First Republic FRC and showed caution before that Those of the Federal Reserve rate decision this week.

The SPDR S&P 500 ETF Trust SPY 0.1% closed lower while the Invesco QQQ Trust Series 1 QQQ lost 0.11% on Monday.

winner: From a diverse group of winners, Cramer highlighted standout names such as Honeywell International Inc HON, microsoft corp MSFTand JPMorgan Chase.

Regarding Honeywell, Cramer said the company could be one of the big stories of the entire quarter so far as its aerospace business accelerates and its refinery chemicals business improves. “But I don’t want to bury the lede: you buy these for aerospace,” he said, according to the report.

Praising Microsoft, Cramer said the company stole earnings season along with Honeywell amid impressive numbers from its cloud divisions as well as its enterprise software and games divisions.

Cramer too noted that JPMorgan “Showed it can make money in any environment” by becoming a “vacuum for deposits fleeing regional banks.”

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