The biotechnology sector has seen considerable selling over the past two weeks, setting up today's recovery. Keith Bliss of Cuttone & Co. expects the market will be range bound until there is more evidence to determine which direction to take. Consumer confidence isn't matching up to weak retail sales and new home home sales reports aren't matching up to recent reports from home builders. He expects the first quarter earnings will give the market the direction it craves.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

More from Video

Carnival CEO Arnold Donald: China Will Become the Largest Cruise Market

Carnival CEO Arnold Donald: China Will Become the Largest Cruise Market

KPMG US Chair and CEO: Survey Shows CEOs are Still Worried About Cyber

KPMG US Chair and CEO: Survey Shows CEOs are Still Worried About Cyber

Rent the Runway co-founder Chats with Cramer on Equal Pay and a Good Pair Jeans

Rent the Runway co-founder Chats with Cramer on Equal Pay and a Good Pair Jeans

Video: Jim Cramer Reacts to Tiffany's Better Than Expected Earnings

Video: Jim Cramer Reacts to Tiffany's Better Than Expected Earnings

Jim Cramer: Union Pacific Is Positive on NAFTA Talks

Jim Cramer: Union Pacific Is Positive on NAFTA Talks