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Art Cashin video: 'Really critical' level for S&P

Art Cashin says traders have taken Syria "out of the play" for now, since they don't expect any military action until Congress acts sometime next week, or even later.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Mary Thompson there are three "clues" that point to what's driving stocks higher: gold, oil and Treasurys are all down. "There's no flight to safety."

With volume on the weak side, Cashin says he thinks it's "really critical" for the bulls to regroup and "clearly push us up through yesterday's high to prove there's not resistance here."

The S&P's intraday high yesterday was 1651.35.

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