The sentiment is not as enthusiastic as it was early this week. Investors are starting to realize that if the (economic) numbers continue to come in on the strong side, the Fed is going to tighten (credit) again.

I think you're seeing an enthusiastic response by the bond market because there appears to be a slight deceleration in economic activity. In order to continue to improve we'll need to see further signs of that slowdown.

The lion's share of those bookings have been taken off the sheets, ... It's only after Fed's move last week that we've noticed this improvement?

I think there is going to be a strong sentiment to run from this.

Investor sentiment is shifting and volume levels are starting to pick up, ... Investors were just taking advantage of yesterday's one-day record advance to take some cash off the table.

What's important for investors to realize about the Dow is it's not just steel stocks and industrial-related stocks. There are growth stocks. There are financial, entertainment and industrial stocks. So when one sector isn't doing well, another sector may be doing well. And that's exactly what's propelling the Dow.