The market is showing an upward bias at the moment with commodity and financial stocks leading the gains. Let's take a look at what is working on the long and short side of the market.

Bullish:

HMO Plays

: Shares of

Aetna

(AET)

,

Cigna

(CI) - Get Cigna Corporation Report

,

Wellpoint

(WLP)

and

UnitedHealth Group

(UNH) - Get UnitedHealth Group Incorporated Report

are all nicely higher on the health care talk coming out of Washington.

Image placeholder title

Financials

:

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. (GS) Report

,

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

and

Bank of America

(BAC) - Get Bank of America Corp Report

have taken the early lead as traders like the feel of these names today on the long side.

Blackrock

(BLK) - Get BlackRock, Inc. Report

is showing signs of bouncing as well.

Commodity Plays

:

Freeport McMoRan

(FCX) - Get Freeport-McMoRan, Inc. (FCX) Report

,

BHP Billiton

(BHP) - Get BHP Group Ltd Sponsored ADR Report

and

U.S. Steel

(X) - Get United States Steel Corporation Report

are all showing signs of working off the recent slump.

AutoZone

(AZO) - Get AutoZone, Inc. Report

: Bouncing higher on news of the company's share buyback initiative.

Earnings

:

J.M. Smucker Company

(SJM) - Get J.M. Smucker Company (SJM) Report

and

Discover Financial Services

(DFS) - Get Discover Financial Services Report

are both trading higher after reporting results.

Consumer/Non-Cyclical

: Shares of

Kraft

(KFT)

,

Pepsi

(PEP) - Get PepsiCo, Inc. Report

and

Procter & Gamble

(PG) - Get Procter & Gamble Company Report

are doing well here.

TheStreet Recommends

FedEx

(FDX) - Get FedEx Corporation Report

: Trying to recover after yesterday's poor guidance. Contributing to the rise in the

Transports

(IYT) - Get iShares Transportation Average ETF Report

.

Intercontinental Exchange

(ICE) - Get Intercontinental Exchange, Inc. (ICE) Report

: Seeing a pop so far today.

Bearish:

Treasuries

(TLT) - Get iShares 20+ Year Treasury Bond ETF Report

: Trading lower today. We missed entering this trade yesterday and have avoided shorting it still this morning. A missed opportunity, but if readers did execute the move, we would be lowering the trailing stop to lock in more of the downside profitable move.

Fertilizers:

CF Industries

(CF) - Get CF Industries Holdings, Inc. Report

and

Agrium

(AGU)

continue to struggle today, following yesterday's sector drubbing.

Gold/Gold Mining

: Weakness in the

SPDR Gold Shares

(GLD) - Get SPDR Gold Trust Report

and mining plays we follow --

Agnico-Eagle Mines

(AEM) - Get Agnico Eagle Mines Limited Report

and

RandGold Resources

(GOLD) - Get Barrick Gold Corporation Report

.

Silver/Silver Mining

: Weakness in the

Silver ETF

(SLV) - Get iShares Silver Trust Report

,

Pan American Silver Corp.

(PAAS) - Get Pan American Silver Corp. Report

and

Silver Standard Resources Inc.

(SSRI)

. All of them are down on fairly heavy volume.

Traders are leaning fairly long right now and are a bit frustrated with the market's inability to head higher this week. We had been cautioning for the last week that the market may need to consolidate and we are seeing it here. Options expiration is also adding another layer to the equation as well.

We are closely watching tech here --

Google

(GOOG) - Get Alphabet Inc. Class C Report

,

Baidu

(BIDU) - Get Baidu, Inc. Sponsored ADR Class A Report

,

Shanda Interactive

(SNDA)

and

Apple

(AAPL) - Get Apple Inc. (AAPL) Report

. We believe these names may offer some good short-term upside once the selling is out of the way.

Stay disciplined and do not force a trade if you are not seeing the proper risk/reward set-up.

Be sure to visit our complete

recommended list of the Best Dividend Stocks

as well as a

detailed explanation of our ratings system

.

At the time of publication, the author had no positions in stocks mentioned, although positions may change at any time.

Tom Reese and Paul Rubillo are senior editors of Dividend.com. Visit Dividend.com for more dividend stock ratings, picks, news, and analysis for long-term and income-seeking investors.