let me bring in warren meyers, veteran trader on the floor here.s rally feel like today? >> it feels like a real momentum booster. we've been trying to break out either way. we've pushed to the upper levels a couple of times and never were able to get through. we had good economic news out of germany. we had the fed. then this bank news is tremendous. >> it comes at a time we've already had a pretty good rally from the october lows. we're already building a high here. >> the only way to break through into new territory is to come through with some gusto. >> let me bring in bob pisani. we'll hear from the fed in about a half an hour and you wonder if that will have an impact on tomorrow's market. >> expectations are very high for a lot of these banks. citigroup people think there will be a gigantic buyback. jpmorgan is the best house that's out here. i'm a little concerned the expectations may be too high. >> warren meyers, always good to see you. that is it for the first hour of the

let's bring in warren meyer, vice president of floor operations at dme securities and a cnbc market analystnk we go from here? >>the preveiling opinion appears to be we have had such a strong run-up, due for a little bit of pull back. you look at a day like today, we had negative news out of china, bad action the leader of all stock, apple today, yet we have sheep a lot of resilience. the net result is the pull back everyone is expecting is harder to come by. >> people talkinabwo or three weeks, fact we don't get it, is that giving us new information we didn't otherwise have? >> i think it makes focus a little bit differently, look at things a little bit differently than you have in the past. when you don't get the expected reaction, you have got to ask yourself y the anticipate to me is this is still the best equity market to put your money n every time there is a hint of a pull back, money flows come into this market and may prevent the selloff from happening. >> i don't know if you saw the network earlier today, but it was suggested to get 24, 25% upside from here. people are seriously u