The FED raised rate 1/4 points yesterday and suggested 2 more raises coming. The market went down 120 points the last half hour trading. Today with the help of merger of T & TWX, DIS & FOX and other possible mergers the market rebounded this morning. The rebound that started at the beginning of April continues. It is a little tired and sentiment is turning bullish. However tops are hard to call. For now the rebound is intact. Some indices are making new high XLY, XLK, XRT. while the DOW and SPY go side way.