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Watch Art Cashin: Post-debt deal dip possible

Art Cashin: 'Buy the dippers' double down

Art Cashin says Wall Street is rallying now on Washington's debt deal, but he wants to see if the buying can be sustained.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday that "right now they're pouring champagne .. let's see how the afternoon goes."

Sell on the news? Cashin says, "I want to see if they can sustain. This clearly looks like the 'buy the dip' crowd. OK, it's over, it's done with, the continuing resolution has been passed. Now what? Is that all there is? There may be a dip after this."