.Patience required.

Since the Fed said the market was not giving enough weight to a rate hike this June, the market has stalled out with volumes drying up considerably on most stocks and few gains to be had.

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Following the release of the minutes on Wednesday, Fed funds futures rates showed that investors doubled the likelihood of a rate increase from the Fed in June, to 34 percent from 17 percent, according to CME group's FedWatch tool.

However, on Thursday markets rebounded from Wednesday's sell-off, and priced down the odds of a Federal Reserve interest rate increase after remarks from New York Fed President William Dudley.

The likelihood of a June interest rate hike fell to 26 percent after Dudley's speech on Thursday.

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