Bullish Signals Flashing, If You'll Only Look

Some real weird action today worth noting. First, as Jordan Kahn points out, Emerson Electric (EMR - commentary - Cramer's Take) is roaring. Just excellent execution there, but a reminder that the best-of-breed in industrials can still ramp. Parker-Hannifin (PH - commentary - Cramer's Take) and Eaton (ETN - commentary - Cramer's Take) are stronger, too. That's not supposed to happen in a slowdown.

Then there's the 2-point rally in Costco (COST - commentary - Cramer's Take). I am a Costco addict and have pushed it relentlessly on my show, relentless, but now it is just scalding! I get it, but then consider Kohl's (KSS - commentary - Cramer's Take), which has become a total albatross. I don't get that one at all. Urban Outfitters (URBN - commentary - Cramer's Take), recommended by Bank of America, is almost at its 52-week-high. Nordstrom (JWN - commentary - Cramer's Take) is beginning to make a good recovery. Retail is "kind of" working.

You've got infrastructure heating up again -- one look at Foster Wheeler (FWLT - commentary - Cramer's Take) and Shaw (SGR - commentary - Cramer's Take) tells you they are about to reload. I still like both.

Once again we've got a nice rally brewing in the defense stocks.

And medical devices are getting some traction.

These are all bullish signs. Bottom line: If you get some containment in finance, you'd get a nice rally.

At the time of publication, Cramer had no positions in stocks mentioned.

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