I do not like the idea of an event driving market moves alone. The technical picture was for wave 5 to complete and at least the weekly negative divergence to give way to a normal correction. So for the Nasdaq a normal correction following the divergence on this weekly chart would be to the 20 week average near 5688 and on breaking that to 5442 in the coming weeks. Below 5442 we would be able to confirm a long term reversal as well. The problem with news based moves is that the news can change abruptly.