The banks and techs are bouncing back and that bodes well for the bulls, said TheStreet's Jim Cramer. He said the market is being spurred by a rally in the banks and it is taking other groups like healthcare and biotech along for the ride. Cramer said the move in the banks really came out of nowhere, especially considering Wells Fargo's (WFC) - Get Report less than inspiring presentation yesterday. In Cramer's view 'these are how real rallies start - on nothing - and then we find out why.'
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.