was the 500pt sell off s&p insider trading?, page-23

Armstrong explains it well

http://www.martinarmstrong.org/files/Standard%20and%20Poors%20Downgrade%2008-06-2011.pdf

The fed has kept AAA+ status so there will be no rebalancing portfolio's due to the downgrade. The other two rating agencies did not follow suit.

Also...buy rumor sell news. The rally started at noon in the US which is apparently when the downgrade was sent to washington. Insider trading? yeah no doubt someone was but there was also a lot of rumor flying around.