Cashin: What the market heard when Yellen spoke

Cashin says: Traders crossing their fingers

Art Cashin said Federal Reserve Chair Janet Yellen "did no harm" to the stock market during her testimony Thursday before a Senate committee.

After Yellen concluded her appearance, Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani, "She said, 'Yes, certainly, the weather is evident but none of us know, yet, whether it's having an impact.' She said, 'We will continue to taper,' but left the door open very slightly saying that if the data continues to deteriorate that they might reconsider and taper the tapering, which gave the bond market a little sigh of relief."

Cashin added that Yellen didn't get too much grilling during her appearance, in part because "most of the Senators ... are a little wary of looking like they are attacking a friendly, older woman. So she's got that going for her."

—By CNBC's Alex Crippen. Follow him on Twitter @alexcrippen.