The lead up to the Fed meeting was that we are going to be done soon, they are going to put the brakes on, and that fueled the momentum. But now people are realizing that they aren't done yet, and that's shifted the psychology.

The main drivers today are that oil prices and bond prices are up, and that's not good for equities.

The leadership of the market is the same as it has been for six to nine months, and that's been energy and technology.

The market has been down, triggered by some comments from Fed governors on inflation,

The market has been trying to hit these highs for some time, but we've been nearing them with less and less enthusiasm,

The market's had a pretty good run this week, in terms of volume and gains, and I think coming in this morning, there was the potential to build on that rally if the jobs report was a blowout.

The market is usually ahead of a recovery, and in the past, the market was reacting to negative data. It seems to be shaking off bad news now. To me, that's good news.

The market is very resilient. We're shaking off any kind of bad news.

All the big news is out of the way, the Fed, the elections, all the big companies have reported. So we've got nothing new except this piece of bad news from Cisco.

All of the numbers this week are potentially market moving. I think people will be watching the numbers for hints about inflation.