New fed chair seemed to confirm at least three rate hikes in the cards for 2018, with possibility of a fourth. And the market didn't tank by even 1% last week on that report.
I agree the market is out of room to run higher on hopes of low interest rates. That play from the last 8 years is over.
But normalizing interest rates is part of the process of normalizing the financial markets. and going back to normal means we should expect to 5% and 10% corrections with much higher frequency than we have over the last 8 years.
The Fed is not supposed to be a babysitter for the stock market. Which they have been over the last 8 years. And THAT WAS NOT NORMAL.