CNBC’s Jim Cramer instructed traders on Thursday it was too early to get bullish on this market, even when lawmakers can reduce a debt ceiling deal.

“I preserve recommending you preserve a excessive money place, even when the Democrats and Republicans reduce a deal, as a result of final time it was the intestine punch of the S&P downgrade a number of days later that basically crushed us,” he stated, referring to Customary & Poor’s sharp drop after 2011’s debt ceiling deal.

Cramer confused that despite the fact that a deal was ultimately reached in 2011, the market nonetheless suffered.

“That is why I preserve recommending you preserve a excessive money place, even when the Democrats and Republicans reduce a deal, as a result of final time it was the intestine punch of the S&P downgrade a number of days later that basically crushed us.”

And to date, based on Cramer, this 12 months’s debt ceiling debacle is operating parallel to that of 2011, making the S&P’s previous downgrade particularly prescient.

“So, realizing what we find out about 2011, it is untimely to get bullish on this market,” Cramer stated. “Finest to maintain the money on the sidelines and ready.”