The markets have spent the first part of the week surging back from last week's aggressive selloff. Tuesday the S&P 500 (SPY  ) added over 2% thanks to strong rebounds in names like Adobe (ADBE  ) and the banks. The SPY still officially closed below the 200-day moving average, but a rapid recovery seems to have pushed the bears away for now.

The Nasdaq 100 (QQQ  ) also surged higher this week so far as the big name tech stocks saw another round of buying at these discounted levels. Netflix (NFLX  ) is reporting strong earnings and a beat on subscriber numbers also helped the overall bounce from the 200-day moving average.

Healthcare (XLV  ) has been a strong sector this week thanks to earnings reports from Johnson & Johnson (JNJ  ) as well as United Healthcare (UNH  ). Adding over 2.5% on Tuesday alone, the healthcare stocks recovered just about half of the losses suffered over the last two weeks.

Homebuilders (XHB  ), which have suffered 30 days of straight declines, saw a bottom-picking attempt by buyers this week. Tuesday the XHB popped 2.25% on decent trading volume thanks to a note from an analyst saying that this discounted move is a good entry point. Homebuilders have been rocked by higher costs, taxes, and higher interest rates.

Gold and Gold Mining stocks (GLD  ) took a break from their quick pop last week. So far this week the price of gold as well as the gold miners (GDX  ) have pulled back slightly as traders wait to see if another decline is on its way for the markets.

Finally, the transports (IYT  ) have added over 2% this week so far thanks to strong earnings from CVX (CVX  ) and an earnings beat from J.B. Hunt (JBHT  ). The transports were one of those sectors that sold off hard and still remain under their 200-day moving average.