From a high level, one could think that the averages are finally at a stable level. However, Jim Cramer suspects that there could be more to the market than meets the eye.
That is why he opened the market's hood to take a closer look, and his resulting discovery could impact your portfolio.
There is a gigantic rotation of stocks happening right now. Cramer sees that the market leaders have decided to take a breather on the sidelines, while the idle bench warmers have decided to jump in the game and make some money.
"My goal here isn't to tell you go buy the cyclicals or sell the staples. My goal is to show you what's under the hood, and how the averages look like they're doing nothing, but underneath we have a rotation going on of immense proportions," the "Mad Money" host said.
But now, the flows of funds have changed and these recession proof stocks have started to reverse. Cramer saw it on Wednesday as the consumer packaged goods plays, drug stocks and biotechs were taken to the wood shed. He considered this the first day of the changeover.