Jim Cramer warns key pillars of the bull market are beginning to crumble

CNBC's Jim Cramer said Monday that a series of mounting risks has made him significantly more cautious on stocks. "I am not that bullish," the " Mad Money " host said. "My bullishness can wait. I think you will get a better time to buy than right now." The caution comes as several pillars of Cramer's bullish outlook have come under pressure. A surprisingly strong jobs report has reduced the likelihood of Federal Reserve rate cuts, while the looming SpaceX IPO, weakness in Apple, and the prospect of additional AI-related fundraising have raised new questions about whether the market can sustain its recent rally. "Things have changed. For the worse," Cramer said. "There's a shroud over this market and you ignore it at your own peril." At the top of Cramer's list is Friday's surprisingly strong employment report, which he said undermines the case for rate cuts this year. Cramer said expectations for one or two rate cuts had been a key pillar of his bullish thesis. Now, he believes the report was strong enough that "you could argue we might need a rate hike to cool the economy, not a rate cut to turn the temperature up." He also expressed concern about the upcoming SpaceX IPO. While demand for the offering appears robust, Cramer warned that an overly enthusiastic debut could ultimately backfire if the stock surges to unsustainable levels before falling sharply. …