Andrew Pyle

We're going to start to see the Fed moving toward guidance that would direct the market to expect a summer rate hike, i think it will be 'market neutral'.

Given the size of the jobs increase and the decline in the unemployment rate, it definitely cements the view that the Fed is going to embark on its tightening course, a cause for a market pullback would be economic numbers that are so strong that it might actually advance the timetable for the Fed, and that's where we are right now.

We're seeing a constructive tone coming back into the markets, which is a spillover from yesterday. But I think there is more hope in this market than actual conviction, these gains could be short lived, especially if we get bad news over the weekend with respect to Greece or Ukraine.

This is based on relief over the direction of interest rates and some buying on what was seen as overdone weakness in the early sessions of the new year, market volatility is going to remain elevated.