Naz News, Gappers and FLE's

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Oh, on SAN...was looking at something else entirely and this popped up... from last night's show...just FWIW...

Cramer said that the Spanish bank Banco Santander(SAN_) is the stock that holds the key to this market.

Shares of Santander bottomed on July 24, a move that signaled the bottom in the markets overall. The bank is truly "too big to fail," said Cramer, and is one of the most dominant financials in the world.

Santander is a proxy for whether Germany will bail out the Spanish economy, said Cramer. If it does, shares could rally to $10. If not, look out below.

So if investors truly want to know which way the markets are headed, all they need to do is look as Banco Santander.