art cashin says the federal reserve cant go back to higher interest rate hikes after easing down they made the mistake if you would of beginning to decelerate they went from 50 basis points down to 25 if you reaccelerate if you go back up to a 50 that tells the market theres a good chance you made a mistake its a kind of uh oh move so they are going to move heaven and earth not to have to reaccelerate the ubs financial services director of floor operations said in a friday appearance on cnbcs  squawk on the street  but that may mean that you continue on the longer side three 25s maybe even four 25s the feds in a psychologically difficult point here about reaccelerating cashin continued that follows thursday comments from atlanta fed president raphael bostic who said hes firmly in favor of 25 basis point rate hikes  instead of the 50 basis point increase some other fed officials have called for stocks reacted favorably to those comments with all three major averages on pace for a positive week  regardless cashin said he expects trouble ahead for markets and urged investors to keep an eye on some technical levels hes watching for a breach of the 410 level in the 10year treasury yield as well as the 4025 level in the s  p 500  it looks to me like the oversold bounce that we got out of salesforce yesterday the influence on the market might carry on until maybe tuesday of next week cashin said and then i think we go back to putting pressure on the market and retest lows