Markets went on another roller coaster ride Tuesday with the Nasdaq, as always the center of attention, rising 2% from early afternoon lows to late afternoon highs only to settle with a finish of down .35%. Benchmarks rallied near the same time the oil markets closed trying to shed the positive correlation. It was the second consecutive session that indexes put up a late upward move. New 52 week highs versus 52 week lows on the Nasdaq have been deplorable with Mondays tally coming in at 8 to 439 (I do not think I have to tell you which one is highs and lows) and Tuesdays score was 3 new highs to 185 new lows. Energy was the worst performing sector Tuesday down 2.5%. Interesting that a group that would benefit from cheaper petrol, the transports, are now beginning to look brighter. Of course this could be a temporary bounce, but this was the sector that led us lower before any other industries started to show signs of strain. The IYT began its gradual, but continuous descent, in late 2014. Airlines were in vogue Tuesday with oil woes, but some trucking names and even the rails are beginning to indicate better times may be ahead. Will they signal that the bottom is near currently as they warned many months ago that trouble was brewing? Perhaps some opportunities are in the corporate bond sector are looming. The spreads between them and government issues is widening and looking at the ETF LQD, although it was stopped today reversing at its 200 day SMA for the third time since December, a good looking bullish falling wedge is taking shape.

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